Contractors & CIS Sub-Contractors
The Construction Industry Scheme ( CIS ) sets out special tax treatment for Subcontractors who work in the construction industry and manage how payments are made by Contractors.
We can advise all Contractors on their statutory obligations from registering with the HM Revenue & Customs , verifying if subcontractors are registered with the HMRC, deductions of the correct amount of taxes and paying subcontractors the net pay.
We can register Contractors with the HM Revenue and Customs and obtain a exemption certificate where applicable.
We can register Subcontractors with the HM Revenue and Customs and obtaining the personal unique tax reference so that Contractors can deduct the correct tax at 20% and not 30%. We can prepare the yearly tax returns and request for refunds of overpaid tax where applicable.
We will keep you updated on any changes to legislation regarding the CIS scheme.