What is CIS?
The Construction Industry Scheme (CIS) determines how contractors should treat payments made to subcontractors in the construction industry (although some other businesses may be affected depending on the commercial activities they carry out).
It’s always advisable to check your status and establish if you fall under the CIS scheme. If you do, feel free to contact us and we will advise you accordingly.
Any changes to a business need to be reported under CIS, this applies to both contractors and subcontractors.
Contractors are required to file CIS tax returns by the 19th of every month to avoid getting a penalty.
So whether you are already registered for CIS and you’re just looking for a helping hand or you require advice regarding CIS tax returns we can provide you with the expertise needed. We support businesses of all sizes with their CIS tax returns and accounts preparation.
If you appoint us to deal with your CIS returns we do the following on your behalf:
- Verify subcontracts
- Submit the CIS returns on a monthly basis
- Correspond to HMRC on your behalf, keeping you updated throughout the process
- Send you reminders every month to inform you when the return is due
- Provide subcontractors statements every month
How much does it cost?
Our fees for CIS returns start from as little as £15 per month depending on the number of contracts. We work with many contractors in Derby and Nottingham to ensure everyone is compliant and has their CIS tax returns filed correctly and effectively.
For more information and advice about CIS returns please contact us on 0115 824 0555 or email us via our contact form below.
To discover more about the services that WKM Accountancy Services offers, visit our services page.