A one-man builder secured a substantial contract, received substantial deposit, set up a Ltd company, engaged subcontractors and started work, all at the beginning of November. It was agreed that subcontractors would be paid 2-weekly, and they are now demanding their money.
The problem is that it now takes HMRC 4 weeks to issue UTR (needed for PAYE / CIS registrations), then the company has to register for PAYE followed by CIS, then authorise agent for verifying subcontractors and filing returns, which will probably take another month if not more due to Christmas and the “pandemic”. What should the director do? All workers have worked in the construction industry (deduction 20%). Should he pay them 2-weekly as agreed, verify / report when possible and claim reasonable excuse? Or is there another way?
Anybody has experience with this, please?
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