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Navigating the intricacies of the Construction Industry Scheme (CIS) can be daunting for small businesses. I specialise in providing tailored CIS accounting solutions designed specifically for smaller construction businesses, sole traders, and subcontractors.
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Construction Industry Scheme (CIS)
Under the Construction Industry Scheme (CIS), contractors deduct money from a subcontractor’s payments and pass it to HM Revenue and Customs (HMRC).
The deductions count as advance payments towards the subcontractor’s tax and National Insurance. Contractors must register for the scheme. Subcontractors do not have to register, but deductions are taken from their payments at a higher rate if they’re not registered.
How Accountant4U Can Help
Every business is unique, so I offer a personalised approach to CIS accounting. Whether you're a sole trader, a partnership, or a limited company, I will tailor my services to meet your requirements. My goal is to provide accurate financial information, timely reporting, and proactive advice to help you make informed decisions and grow your business.
Contractor
Register as a contractor if either:
You pay subcontractors for construction work.
Your business does not do construction work but you have spent more than £3 million on construction in the 12 months since you made your first payment.
Sub Contractor
Register as a subcontractor if you do construction work for a contractor.
Remember as a subcontractor there is a very high chance you are due a tax refund every year, so please contact me to help you obtain this refund.
Comprehensive CIS Accounting Services
At Accountant 4U, we offer a wide range of CIS accounting services to streamline your financial processes and ensure compliance with CIS regulations. My comprehensive services include the following:
CIS Registration Assistance
As a personal accountant in Chepstow, I will work closely with you to gather all the necessary financial data related to your VAT transactions. This includes both sales (outputs) and purchases (inputs) subject to VAT.
CIS Tax Returns
My experienced accountants will prepare and submit your monthly CIS tax returns accurately and on time, considering the deductions and calculations required under the scheme.
CIS Compliance
I will help you maintain compliance with the complex CIS regulations, providing ongoing advice and support to ensure you meet your obligations.
Verification of Subcontractors
I will assist you in verifying subcontractors, ensuring they are registered with HMRC and have the correct tax status.
Tax Planning & Advice
Accountant 4 U will work closely with you to develop effective tax planning strategies, minimise tax liabilities, and maximise financial efficiency.
Bookkeeping & Payroll Services
Accountant 4 U can handle all your bookkeeping and payroll needs, keeping track of your income, expenses, and subcontractor payments, so you can focus on running your business.
