If you are a subcontractor working in the construction industry you will most likely need to register with HMRC for CIS. If you are a contractor you will also be required to deduct CIS from your subcontractors and pay this across to HMRC along with submitting a monthly report, there is further info on the link below to HMRC or contact us if you require support with CIS, we will be happy to help you.
We have many years of experience with the compliance required for CIS and we support many local contractors, ensuring they meet deadlines with ease.
If you are a subcontractor working in the construction industry, it is very likely that you will be required to register with HMRC under the Construction Industry Scheme (CIS).
HMRC will provide you with a UTR number which you pass on to the contractors you work for so that they can deduct CIS from your payments, this will be paid across to HMRC on your behalf and will be entered to your tax return as "tax paid" under CIS.
You must make sure you are given a CIS certificate with each contractor payment as this is evidence of your tax payment.
We can help you set up and manage your CIS and self assessment tax return, please get in contact for more details.
As a contractor taking on subcontractors under the construction industry scheme, you have a responsibility to verify subcontractors with HMRC under CIS, deduct CIS from each payment and pay & submit this across to HMRC each month.
Being a contractor you will be busy managing your business on a day to day basis, to ensure your business runs smoothly, and you may decide you require support with your HMRC deadlines.
We can run your CIS responsibilities for you, ensuring that your subbies are verified with HMRC, paid accurately with deduction certificates provided and submitted to HMRC on time each month.
Please get in contact to discuss your requirements further.
The HMRC helpline are very helpful if you would like to speak to an HMRC representative about CIS, and their website is full of useful information on how to register and fulfil your responsibilities with HMRC under CIS. Use the link above for more info directly from the HMRC website.
We can also assist you with any part of your registration and ongoing deadlines and responsibilities, contact us for more info.
The latest update to CIS is the Domestic Reverse Charge which comes in to effect from 1st March 2021.
This will change the way you invoice customers that are VAT & CIS registered if they are not classed as an end user.
It will also change they way your VAT & CIS registered suppliers invoice you for VAT.
Below is a link to the HMRC webpage for further information, contact us if you would like support with your CIS responsibilities.