Construction Industry Scheme (CIS) Under the Construction Industry Scheme (CIS), contractors deduct money from a subcontractorâs payments and pass it to HM Revenue and Customs (HMRC). The deductions count as advance payments towards the subcontractorâs tax and National Insurance. Contractors must register for the scheme.
Depreciation and Amortization. Not all G&A expenses represent cash leaving the company. Depreciation and amortization expenses are a result of the matching principle of accounting. This principle tells us that we should match the costs of producing revenue to the period when the revenue is produced.
These costs are referred to in the oil and gas industry as G&G. (geological and geophysical) expenses. The function of G&G activities is to locate. and identify properties with the potential to produce commercial quantities of oil and. natural gas. Before Congress simplified the law in 2005, G&G costs associated with.