CIS.

Building a strong working relationship

Getting paid cash-in-hand when you work in the construction industry isn’t a rarity, but when it happens you must declare it with HMRC to be tax-compliant. The construction industry scheme (CIS) requires contractors to deduct a percentage from subcontractors and pay HMRC directly.

By providing a CIS service to you, we’ll take care of everything when it comes to paying HMRC. This includes all the necessary calculations and then preparing statements and filing them, meaning you won’t have to worry yourself with all of the extra admin work.

It isn’t just contractors who need to deal with CIS – as subcontractors you’ll also be required to register. When registered, subcontractors will have to withhold 20% of pay for tax, unregistered workers have to withhold 30%. Throughout the year, records must be kept through bookkeeping so by the end of the tax year there’s an accurate sum left for tax. Once that is done then an annual return will need to be filed, and any overpaid CIS can then be reclaimed.

Our team can help with all of this –we can set you up with accounting software such as Xero or QuickBooks and even manage your tax returns.

We can help you with anything involving your CIS, but if you have any questions feel free to get in touch and see what we can do.