CIS Return

What Is A CIS Return?

The Construction Industry Scheme is a scheme for self-employed contractors within the construction industry. It is a requirement that Contractors register with HMRC & submit monthly CIS returns, detailing the deductions made from their sub-contractors payments & CIS activities. The scheme helps to regulate payments contractors make to the subcontractors who carry out work for them. Sub-contractors are not required to register for the scheme, however deductions are taken from their payments at a higher rate of 30% if they are not registered.

How Do You Know If Its Applicable To You?

Those who are self-employed in the building or construction trade should pay tax under the Construction Industry Scheme. Contractors are required to register however sub-contractors are not. But for sub-contractors who aren’t registered, it means that deductions will be taken from their payments at a higher rate of 30%.

• You should register as a contractor if you pay subcontractors for construction work or if your business doesn’t do construction work, but you spend an average of more than 1 million a year on construction work in any three year period.
• You should register as a sub-contractor if you do construction work for a contractor.

How Can We Help?

We understand that not all contractors will know how to or have time to submit CIS returns & it isn’t always as straightforward as you’d hope, so we are here to offer our assistance in taking away the pressure of CIS submissions each month to enable your full concentration on your business.

What Do We Do?

We are able to assist in every aspect of complying with the Construction Industry Scheme requirements. The services we offer include;

• Registration as a contractor
• Registration as a sub-contractor
• The preparation & submission of monthly CIS returns
• Sub-contractors monthly payment & deduction statements
• The verification of subcontractors

How Would You Benefit From Our Service & Why Choose Us?

• Deadlines are managed & met in a timely manor
• We will reduce the risk of penalties from HMRC

Our fixed fees mean we can focus on providing high quality service & offer free unlimited advice. We pride ourselves on forming close relationships with our clients, so our services & advice is personalised. By choosing us you will also reduce the risk of late filing penalties from HMRC.

Complementary Services

Other services that may be of interest to you include:

• VAT Returns
• Annual Accounts
• Self-Assessment Tax Return

Find Out More

To find out more about our CIS Returns service, please get in touch with the team below.

CONTACT US TODAY