CIS Scheme

We specialise in Mortgage Advice for Subcontractors paid via the Construction Industry Scheme (CIS)

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All You Need To Know About The CIS Scheme

The Construction Industry Scheme (CIS) is a tax deduction scheme that involves tax being deducted at a source from payments which relate to construction work. The deductions count as advance payments towards the subcontractor’s tax and National Insurance.

To benefit from the CIS scheme, both subcontractors and contractors must register for it. It’s not compulsory for subcontractors to register, but deductions will be taken from their payments at a higher rate if they’re not.

How much is the CIS deduction?

If you’re not registered with the CIS scheme, you will have 30% tax deducted from your salary. However, if you are registered with the scheme, the amount of tax deducted from your salary will be 20%, so it can definitely pay to be CIS registered.

Who counts as a contractor or subcontractor?

You count as a contractor or subtractor if:

  • You pay subcontractors for construction work
  • Your business doesn’t do construction work but you spend an average of more than £1 million a year on construction in any 3-year period

Do I qualify?

You’ll be pleased to hear that CIS covers most construction work including: a permanent or temporary building structure, civil engineering work like roads or bridges, preparing the site e.g. laying foundations and providing access works, demolition and dismantling, building work, alterations, repair and decorating, installing heating systems, lighting, power, water and ventilation and cleaning the inside of buildings after construction.

CIS can help you get a mortgage

In order to reduce your tax liability, your bookkeeper or accountant will usually advise you to record all business-related expenses. However, this can pose problems when it comes to trying to obtain a mortgage as banks will use your net profit after expenses to calculate how much you can borrow. This yields a much lower borrowing figure compared to what is typically offered to someone employed as a full-time employee.

The reason banks and some mortgage brokers act in this manner is that they simply do not understand your status. On the flip side, our experts understand your status completely and will calculate how much you can borrow based on your daily rate of pay, rather than the profit you show the taxman after your expenses. They can also achieve a better level of borrowing, by placing your mortgage with a lender familiar with the CIS Scheme.

Contact our CIS mortgage advisers now, for an instant decision, or see how much you can borrow on a mortgage.

How can I register for the CIS scheme?

If you’re not registered for the CIS scheme and want to register, you will need to contact HMRC directly.

Contracting for less than one year?

If you’ve only recently become a contractor and have been doing it for less than a year, not to worry –  we can help you.

Most other brokers, and banks struggle to find a mortgage suitable for someone who has a continuous record as a CIS subcontractor running for less than 12 months. But this isn’t a problem for our team. Where others may have failed you, we are confident we can find a suitable mortgage after you complete our initial fee-free no-obligation telephone assessment.

Based on our specialist understanding of the CIS Scheme, our expert mortgage advisers can present a good case to the mortgage underwriters on your behalf.

Don’t delay, contact us now for your CIS mortgage assessment.

We Say Yes To CIS

Less than 1 year self-employed

5% Deposit

Less than 3 years in the UK

High day-rate with low net profit

belayet hussain
belayet hussain
13:26 28 Nov 19
I would highly recommend CIS Mortgage 100%. David Sharpstone & his team went above and beyond to helped me secure both my mortgages. He always kept me updated with the process and developments. Buying house is probably one of the most stressful times of your life, However David always reassured and guided us throughout the entire process. understanding, caring yet always remaining professional and supportive. Brilliant I cannot THANK him enough. THANK YOU!!read more
paul montgomery
paul montgomery
10:15 12 Nov 19
Can’t give nothing but praises and thank you to David and CIS Mortgage’s from very first conversation to being offered a Mortgage he and his company kept me informed of every process and explained in every detail of application and history required with nothing but first rate professionalism throughout I will use him in future and recommend him to anyone in the same difficult situation I was in, as I was given bad advice before this company which gave me the feeling would never get on property ladder now David has dealt with my case will be moving into my first home in couple months thank you again David and CIS team. If you’re in difficult situation or just need advice please just call CIS Mortgage’s.Paul.read more
Becca larkin
Becca larkin
11:19 18 Oct 19
If you are thinking about using CIS mortgage, 100% do it! I can't explain how happy my partner and I are with the service. After seeing a previous mortgage adviser who told us we couldn't get a mortgage, David, within days got us a mortgage. So pleased with the outcome and it was so refreshing to speak to someone who completely understands CIS through and through. Amazing!!!read more
Ruaridh black
Ruaridh black
13:56 24 Aug 19
Went directly to a bank for a mortgage with my cis statements and they didn't even consider giving us the mortgage. Me and my wife were gutted as it was our dream home and one we could start a family in together. Thanks to David here we managed to get a mortgage and got the house we wanted! We are now expecting our our first child and in our dream home! Wouldn't have been possible to get the house/mortgage without them so very appreciative. Fast and professional and would recommend them to anyone who works under the CIS payment scheme and are self employed.read more
P. Jiten
P. Jiten
09:56 17 Aug 19
For CIS self employed people this is the best company in UK. Got mortgage in principle certificate after submitting required documents and mortgage approved in 10 days after submitting file. Hassle free process throughout and any question or query promptly answered. David and Lisa are amazing people to work with.read more
Michelle Perrin
Michelle Perrin
09:28 17 Aug 19
My husband and myself have been dealing with David since our first property purchase in 2012. David has a vast amount of knowledge, has always put us at ease and answered our questions throughout the process. David is great to deal with, always goes above and beyond and we have already recommended him to several of our friends and family, one of which is nearing completion of their first home. Always fantastic service, highly recommend CIS Mortgage Adviceread more
Veronica Grosu
Veronica Grosu
09:36 12 Aug 19
Fantastic service from start to finish. David made it simple and effective for us. We are very happy with the outcome. I would definitely recommend!read more
Rob
Rob
09:23 18 Jul 19
David has been faultless from the beginning and helped me and my girlfriend out loads and without him we would not be moved into the house we are in now. He understands the difficulties of being a CIS worker with mortgages and gives you the best advice he can and is very quick on the ball at getting stuff sorted. My case I appointed him for was more complex than most I would say due to being self employed and having a limited company but he had no trouble with achieving me a great mortgage deal and borrowing amount with the information I gave him. It has been a pleasure to deal with david through buying this property and I shall definitely be using him on any future purchases or remortgages. Nothing was ever to difficult for him and he was always just at the end of the phone when you needed him even after his working hours he went above and beyond by helping me with help to buy also.read more
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How?

Based on our specialist understanding of the CIS Scheme, our expert mortgage advisers can present a good case to the mortgage underwriters on your behalf.

Don’t delay, Contact us now for your initial fee free, no obligation CIS mortgage assessment.

Less than perfect credit history? Low deposit?

Even if you have managed to save just 5% of your expected purchase price, or have a small CCJ, or a default registered more than two years ago, don’t despair… we can still help you get a mortgage.
Our mortgage advisers will ask you a detailed set of questions about your circumstances and if there is less than a perfect credit record you must be prepared to explain the situation around each negative point – this will help our advisors build a case to support your application for a mortgage.

But they must know all the facts about you and your credit situation, because only then can they mount a successful challenge for a mortgage, based on your day-rate. So, if you have any bad credit, no matter how minor, obtain a copy of your credit report and present it to your mortgage advisor.

Whether you ready to buy now, are just planning ahead in order to buy a new home in the future, call us; or send an enquiry and have one of our experienced CIS mortgage advisers call you right back.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE