CIS Accountant services
Hey, I am Tom a CIS accountant, specialising in helping clients in the construction industry.
Accounts can be confusing enough without throwing CIS in the mix. It’s so important with CIS that you’re organised and operate correctly. I have worked with hundreds of Sole Traders and Limited Company contractors and subcontractors.
What is the Construction Industry Scheme (CIS)?
CIS is a HMRC scheme, which applies to contractors and subcontractors in the construction industry.
There is a requirement for contractors to deduct tax from subcontractors on behalf of HMRC. For registered subcontractors it’s at a rate of 20% and for unregistered subcontractors it’s 30%.
Not all work in the construction industry falls under CIS, so it’s worth looking at the HMRC guidance.
CIS contractors
The requirements of being a CIS contractor can be overwhelming including monthly CIS submissions and CIS statements for subcontractors.
When you’re about to take on and pay your first subcontractor, you need to register with HMRC.
You then make deductions from the subcontractors pay on behalf of HMRC.
CIS subcontractors
Whether you’re operating as a sole trader or Limited Company subcontractor, you’re getting deducted CIS.
It’s crucial that these deductions are tracked by you and a claim is made at the end of the tax year, which is something I can help with.
Depending on the tax rate you’re paying, some subcontractors can then be entitled to a refund, so it’s important we submit the claim as soon as possible.
Why Choose Every Cloud to be your CIS accountant?
★ Experience working with hundreds of contractors and subcontractors in the construction industry.
★ Quick and proactive – Organised and timely returns, so you’re compliant with the scheme and can get claims submitted as soon as possible.
★ Cloud accounting – By getting your CIS information on accountancy software, we can know exactly how much you’ve suffered or deducted and have all the information in one place so we can make claims easily and quickly.
★ Peace of mind – I can handle the CIS, leaving you to focus on what you do best.
If you’re overwhelmed with CIS and you would like some support from a CIS accountant, book a discovery call today.
More Accounting services I offer:
- Bookkeeping
- Limited company accounts
- Small business accounts
- Sole trader accounts
- Self assessment tax returns
- VAT returns
- Payroll
- Xero set up and training
- Dext set up and training
- Every Cloud Power Hour
