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

 

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