The Construction Industry Scheme (CIS) is a set of regulations established by the UK government to manage tax payments within the construction sector.
The Construction Industry Scheme (CIS) is a set of statutory provisions established to ensure tax is deducted at the basic rate from payments made to subcontractors in the building industry unless the subcontractor can provide a specific Revenue certificate. Implemented on 6 April 2007, the scheme helps to manage tax collection in the construction sector effectively.
A Mechanic's Lien is a legal claim against a property that has been remodeled or improved. It is filed by contractors, subcontractors, or suppliers who claim they have not been paid for their work or materials. The lien ensures that these entities receive payment for their contribution to the construction or repair of buildings or other structures. This lien remains in effect until the debt is settled, and in certain circumstances, it may provide priority over other creditors in the event of liquidation or sale of the property.
An insurance endorsement that provides liability coverage for an insured who is sued due to the negligent acts or omissions of an independent contractor or subcontractor, resulting in bodily injury and/or property damage to a third party.
A prime contractor, often referred to as the general contractor, is the main contractor responsible for overseeing the overall construction project, managing subcontractors, and ensuring completion in compliance with contract specifics and legal requirements.
