We offer an all-encompassing CIS Returns Service. CIS really doesn’t need to be as overwhelming or confusing as it can seem….

CIS is short for Construction Industry Scheme. It’s HMRC’s way of collecting income tax from people who work in and around the building industry as subcontractors rather than employees.

What is CIS ?

CIS applies to most workers in the construction industry. There are two elements to it:

  1. Contractors need to deduct CIS tax from your subcontractors and submit CIS Returns to HMRC.
  2. Subcontractors must complete a tax return and claim their CIS refund.

Our team will happily file your CIS returns each month, along with all your other HMRC Submissions – and guess what, we will also produce and provide you with all the CIS documentation you need!!

What is the difference between a Contractor and a Subcontractor I hear you ask?

Contractor:

  • Contractors within the Construction Industry have to submit a CIS return before the 19th of each month.
  • This return lets HMRC know how much CIS Tax you had deducted from your subbies and need to pay over to HMRC.

Subcontractor:

  • Subcontractors must complete a personal tax return each year, informing HMRC how much they have earned and how much CIS tax they have paid.
  • As a subcontractor is it quite likely that you will receive a tax refund each year!!

So what do you do if you work in the Construction Industry?

Well, there is a strong chance you will need to register under HMRC Construction Industry Scheme to ensure the correct Tax and National Insurance deductions are made and paid across to HMRC.

What does our service include?

Our team of experts will ensure that the right tax deductions are made and that you are fully compliant with the HMRC regulations.

  • We will file your CIS monthly returns.
  • Produce the CIS Deduction Statements each period.
  • Undertake you HMRC Subcontractor verification.

Penalties:

Failure to submit your CIS figures can result in significant penalties!

One date late will incur a £100 penalty….and if you went on for longer, they quickly stack up to be pretty substantial and costly – so it is important your CIS obligations are managed effectively.

CIS Process

  • Pay Run – Process your CIS and report the details to HMRC as per the rules
  • CIS Deductions – Process your payments to your sub-contractors ensuring they are deducted the appropriate tax amount.
  • CIS Sub-contractor statements – Produce statements detailing how the sub-contractors pay is made up, which also include year to date figures as well as current pay figures.
  • Payment Report – Provide you with a detailed management report every time we process your pay run. You will need these figures when processing your Year End P35 Return.