Friday 20 November 2009

The Construction Industry Scheme (CIS)

The Construction Industry Scheme (CIS) is a series of regulations for contractors and sub-contractors within the construction industry. If you work in the construction industry, whether as contractor, sub-contractor, or both, we can help you fulfil your obligations to the tax man.

If you are a contractor we can:


Register you with HM Revenue & Customs (HMRC) as a contractor
Verify your subcontractors with HM Revenue & Customs
Ensure you pay your subcontractors correctly within the scheme making deductions if necessary
Supply deduction statements to the sub-contractors
Keep your records in good order and supply HM Revenue & Customs with monthly returns
Make sure you do not incur penalties by failing to submit your monthly returns to HMRC.

We have many contractors as clients and can look after your needs quickly and efficiently. We make sure we are up to date with any changes to the law and as a client will always notify you of these changes.

If you are a sub-contractor we can:

Prepare your self-assessment tax return for you
Keep your records in good order
Ensure you pay only the right amount of tax by claiming all available deductions

Sub-contractors normally receive their earnings after 20% tax is deducted by the contractor. Often a refund is due to the sub-contractor, as these deductions outweigh the final tax bill - where this is the case we can calculate the refund and apply for it to be paid on the sub-contractors behalf.

AS

No comments:

Post a Comment