The IAB Level 2 Award in Construction Industry Scheme qualification has been specifically designed to enable those who have completed the qualification to effectively record and maintain financial information to comply with the requirements of the CIS.
Under the Construction Industry Scheme (CIS), contractors deduct money from a subcontractor’s payments and pass it to HM Revenue and Customs (HMRC). The deductions count as advance payments toward the subcontractor’s tax and National Insurance. Contractors must register for the scheme. Subcontractors do not have to write, but deductions are taken from their payments at a higher rate if they are not registered.
Learners intending to further their studies by completing this qualification must hold the IAB's Level 2 Certificate in Computerised Bookkeeping 601/9052/8.
This qualification is assessed via an online Sage assessment which is a time constraint knowledge test.
Guided Learning Hours – 30
Total Qualification Time – 40
Credit value - 4