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In this episode of Build Smart Blueprint, we explore the critical differences between the Construction Industry Scheme (CIS) and Pay As You Earn (PAYE) payroll systems. Learn how each system works, the pros and cons, and how to decide which is best for your construction business. We'll also discuss the risks of misclassifying workers and the potential legal and financial consequences. Whether you're a contractor, subcontractor, or managing a construction company, this episode provides essential insights to ensure you're paying your workers correctly and compliantly. Tune in to make informed payroll decisions for your business!
In this episode of Build Smart Blueprint, we dive deep into the essential taxes that UK builders and contractors need to know. From VAT and Business Rates to Corporation Tax, Personal Income Tax, and National Insurance Contributions, we break down what each tax is for, how it's calculated, and when it's paid. Whether you're a construction entrepreneur or managing a contracting business, this guide will help you navigate the tax landscape with confidence. Stay compliant and optimize your tax strategy with our expert tips.
In this episode JP lays out 4 additional considerations to take into account when thinking about whether taking cash payments is really a good idea?
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