CIS

 

year-endUnder the Construction Industry Scheme (CIS), money from a subcontractor’s payments and pass it to HM Revenue and Customs (HMRC).

 

The deductions count as advance payments towards the subcontractor’s tax and National Insurance.

 

Contractors must register for the scheme. Subcontractors don’t have to register, but deductions are taken from their payments at a higher rate if they’re not registered.

 

Services we provide for contractors:

 

  • Register you with HMRC as a contractor
  • Verify your subcontractors with HMRC
  • Ensure you pay your subcontractors correctly within the scheme
  • Supply deduction statements to the subcontractors
  • Keep your records in good order and supply HMRC with monthly returns

 

Services we provide for subcontractors:

 

  • Determine your status as a subcontractor or employee, (or both) and register you with HMRC accordingly
  • Verify you with HMRC on behalf of your contractor
  • Manage and organise your business records
  • Prepare your end of year self assessment tax return and calculate your tax liability/ refund where applicable

 

Testimonials
Excellent and bespoke service.Catered according to my business needs.Kizen Logistics ltd

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Kizen Logistics ltd
Great experience: professionalism, warm relation, always there when you need them.

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Sorin Dobrila
I am with mffs accountancy since 2014. I never had any issues . I strongly recommend this firm . They will always answer your phone calls and you will never get hidden fee surprises .

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Mehrdad Kh
MFFS has made accounting so much easier for us, excellent communication and invaluable advice!

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Jonathan Webber
I have been using MFFS Acountancy for nearly a year now and then my partner also started to use their services. We get support and regular advice and guidence on our businesses. I would definitly recommend their services.

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Nadz Panton
Excellent Service. Really quick to sort out my affairs. I would recommend using their services.

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Naima Qureshi
I found them through my daughter. Excellent assistance and friendly team. Highly recommended

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Desola Desiye
Great service! Providing good advise and helpful tips! Prompt and responsive to all my queries.Interior Design Concepts Ltd

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Interior Design Concepts Ltd
A very professional company to deal with. They look after all my personal accounts and business accounts.Definitely recommend MFFS Accountancy to others.

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Atif Malik
One of the best experiences ever. MFFS accountancy is professional, precise and has one of the best services of any accountancy you could ever require.

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Kwame Kwarteng