We offer our accounting service to both contractors and subcontractors.
CIS applies to most workers in the construction industry. If you are a contractor you will need to deduct CIS tax from your sub-contractors and submit CIS returns to HMRC. If you are a sub-contractor you will need to complete a tax return and claim your CIS refund (if applicable).
If you are a contractor within the construction industry then you will have to submit a CIS Return before the 19th of each month. A CIS return lets HMRC know how much CIS tax you have deducted from your sub-contractors and therefore how much you owe to them.
We will liaise with you to make sure the monthly CIS returns are all filed on time and are reconciled at the year end. The HMRC penalties for late monthly CIS filings and late payment interest can rack up and the HMRC will not accept any excuses for not paying them what is due. This is why it is very important that you put in place arrangements to complete your CIS returns.
If you ask us to complete your monthly CIS returns we will carry out the following for you:
- Adding and verifying your new sub-contractors
- Processing of the payment and deduction statements
- Submission of the monthly CIS returns
- Automated email reminders to inform you when your CIS returns are due
- Representation in the event of a CIS enquiry from HMRC
- Correspondence with HMRC on your behalf
- Unlimited help and advice regarding your CIS returns
We charge as little as £3 per statement per subcontractor
If you are a sub-contractor in the construction industry you are required to complete a personal tax return each year. The tax return tells HMRC how much you have earned, how much expenditure you have incurred and how much CIS tax you have already paid.
As a sub-contractor it is likely you are entitled to a tax refund each year as you will have paid more in CIS tax than you owe.
If you ask us to act on your behalf you can expect the following benefits:
- Completion of a full set of accounts for your business
- Submission of your tax return
- Overseeing the process for your repayment
- Your own dedicated accountant
- Representation in the event of a tax enquiry from HMRC
- Unlimited help and advice throughout the year from your accountant
For a sub-contractor who does their own bookkeeping, we would charge £20.50 per month for the accounts, tax return and everything noted above.
If you would like us to also do your bookkeeping, the all-inclusive charge starts from £25.50 per month.