If you are a contractor making payments to sub-contractors, there are strict compliance procedures to adhere to. HMRC operates an extremely tough penalty regime for those within the CIS scheme.
Contractors need to ensure that they keep not only their books and records up to date but also that they are not late in submitting returns or making payments of CIS tax deducted.
Under the Construction Industry Scheme (CIS), contractors deduct money from a subcontractor’s payments and pass it to HM Revenue and Customs (HMRC). These deductions count as advance payments towards the subcontractor’s tax and National Insurance.
What we offer
Contractor Accounts have extensive experience in managing the scheme for contractors and can aid in not only registration onto the scheme but in trouble-shooting CIS issues also.
Our aim is to ensure all of our contractors are compliant within the rules of the scheme whilst reducing the costs of managing the scheme. If you would like more information on our Construction Industry Scheme services, contact the Contractor Accounts payroll services team today!