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COVID-19: FAQs for CIS contractors

David McManus

David McManus | Personal Tax Manager

Wednesday 3rd Jun, 2020

If you’re looking for extra information with regards to the financial support measures available to CIS / Self-employed contractors, and in particular the recently announced Self-Employed Income Support Scheme Grant Extension, you can do so in our guidance page. Below we answer some of the specific questions sent in to us by our CIS / Self-employed contractors.

If you aren’t able to continue paying them as a result of the COVID-19 pandemic’s effect on your company’s work, you should be able to get support through the Coronavirus Job Retention Scheme (CJRS), further details can be found here.

If the payment cannot be made in full by 31 March 2021, HMRC will allow you to set up a payment plan to pay the amount over the course of the 2021/22 tax year.

Assuming that you have filed your Tax Returns and were eligible for the original Self-Employed Income Support Scheme (even if you didn’t claim under it at the time), you may still qualify for the new Self-Employed Income Support Grant Extension. Please check to see whether you meet the criteria for these taxable grants by looking up our guidance here.

HMRC explained that this second payment on account could be deferred until 31 January 2021. It is important that you get your Tax Return for 2019/20 completed as soon as possible to make sure that any payment you have to make for this tax year is kept to the minimum.

In September 2020 it was announced more time to pay taxes due in January 2021 will be granted, with tax payers being allowed to secure a plan to pay amounts due over a period of 12 months instead.

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