At Ace Accountants & Tax Consultants, we offer a range of accountancy services for people working within the government’s Construction Industry Scheme (CIS). Our past and existing customers include both CIS contractors and subcontractors.
Is your work covered by the CIS?
The CIS covers most construction work, including preparing the site, plastering walls, roofing, plumbing, electrical work and building work. If you are a company or self-employed individual working as a contractor within the construction industry, then you are obliged to register for the scheme and to make the appropriate payments to HMRC. If you are a subcontractor, then it is still in your interests to register for CIS, as unregistered subcontractors are liable for a higher rate of contributions than those enrolled on the scheme.
Our CIS services
Your accountancy obligations under CIS depend on whether you work as a contractor, or as a subcontractor. The different services we offer are listed for you below.
For CIS contractors:
- Registering you as a CIS contractor with HMRC;
- Verifying your subcontractors with HMRC;
- Ensuring correct payments to subcontractors;
- Submitting monthly returns to HMRC;
- Issuing CIS vouchers to subcontractors;
- Applying 30% tax rate to unverified sub-contractors;
- Completion and submission of the monthly CIS300;
- Keeping all your records in good order; and
- Setting up and operating a PAYE scheme.
For CIS subcontractors:
Our services for CIS subcontractors vary, depending on whether you operate your business as a limited company or as a sole trader.
Companies
- We submit your monthly Payroll EPS (Employment Payment Summary) to HMRC, showing how much tax your contractors have had deducted on the work they have done; and
- We manage your CIS reclaim from HMRC.
Sole-traders & partnerships
Many of our long-term clients are self-employed CIS subcontractors. We offer an end-to-end accountancy service for an all-inclusive monthly fee.
This covers:
- The preparation of all your business accounts and tax returns; and
- Where there is a tax refund owed to you, we manage the refund, chasing HMRC on your behalf whenever necessary.
Ace Accountants & Tax Consultants has vast experience with CIS and can ensure total compliance for contractors and subcontractors alike. So, whether you are the contractor or the subcontractor, we can help you keep your CIS affairs in order.
Please contact us on 0208 550 5369 for a free, no-obligation chat or complete the form below and we will get back to you.
