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    Construction industry scheme

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    We can help you find your way through the CIS returns, which are legal requirements submitted each month for sub-contractors. 

    We have invested in software to make this a cheaper and less painful task for you to complete; pass us the paperwork, and we will submit everything to HMRC for you.

    We’ll verify your sub-contractors and process monthly statements. We can incorporate your CIS returns along with your bookkeeping or look after this part of the business for you, and, of course, we can be as flexible as you wish.

    What is the Construction Industry Scheme (CIS)?

    Under the CIS, contractors deduct 20% from the subcontractor’s payments and pass it to HMRC. These deductions are advance payments towards the subcontractor’s tax and National Insurance contribution.

    All contractors have to register for the scheme. Subcontractors do not have to register, but payments of 30% are deducted if they are not registered. If you work as both a contractor and subcontractor, you need to register for both.

    You can find out more here (https://www.gov.uk/what-is-the-construction-industry-scheme), but, for the purpose of CIS, construction work includes:

    Monthly CIS returns

    We can complete your monthly CIS returns for you, allowing you to concentrate on your projects and give you less worry. Failure to complete returns can result in very frustrating and costly fines.

    CIS applies if you are a limited company or a sole trader. If you are a limited company, the total amount of CIS deductions should also reduce your company’s Corporation Tax liability. Any CIS credit remaining will be refunded to your company.

    Similarly, for a sole trader, this will reduce your personal tax bill. Any credits left over will be refunded.

    Even as a sole trader, you will need to run a CIS payroll for paid subcontractors.

    If you are unsure if you should register for CIS or would like to talk about the effects concerning bookkeeping and ongoing returns, please contact us to see how much we can save you. Call us today on 01273 514060.

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    Contact us to find out how much we can save your business

    Would you like our friendly, professional team to manage your payroll requirements? We can take care of your payslips, reports to BACS and P60s, giving you more time to run your business.

    For a reliable, efficient and personal service please contact us and we can discuss this personally with you by phone or via zoom/team meetings.

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