Construction Industry Scheme
Trade Accountants specialize in Construction Industry Scheme (CIS) completion and submission for both contractors and sub-contractors.
We are able to register qualifying clients into the Construction Industry Scheme and report all data required to HMRC using our CIS Agent Gateway.
We provide a comprehensive service in all aspects of the Construction Industry Scheme. These range from data analysis, preparing monthly figures, providing payment deduction statements and submitting reclaims.
If you are trading with the construction industry, it is most likely that you will be utilizing the services of sub-contractors. Let Trade Accountants set up and manage your Construction Industry Scheme.
With vast experience on dealing with both sides of CIS, we have a thorough knowledge of what is required and also expected from you as a Contractor.
We will complete the full process of verifying sub-contractors with HMRC, applying the correct tax rate, deducting at source, supplying payment statements and submitting the relevant data via a CIS return
If you are providing services to a construction company, while not being on their payroll, you can class yourself as a sub-contractor. It is essential that your business is registered with the Construction Industry Scheme so that your Contractor is able to verify you with HMRC and apply the correct tax rate when deducting at source. Trade Accountants will ensure you are registered correctly in order to avoid higher tax deductions at source.
We will also ensure that your deduction statements are compiled and the necessary computations are made when fulfilling your tax duties.
Extensive information relating to the completion of your tax return with the inclusion of CIS deductions can be found below.