Construction Industry Scheme

HMRC CIS GUIDANCE

If you are a contractor or sub-contractor, you will be a part of CIS (Construction Industry Scheme), a special set of rules that handle payments for construction work in the UK.

 

As a contractor, you can benefit from our help to ensure that your company complies with regulations. We can file all the necessary forms and confirm that they have been received by HMRC, saving you time and money. We can also set up and maintain your payroll and issue weekly or monthly pay slips.

 

It’s not unusual for contractors to sub-contract to other companies. If you find yourself in this position, we can remove some of the hassle by registering your company as a sub-contractor for you, leaving you free to work on your business.

CIS advice norfolk
construction industry scheme

CONSTRUCTION INDUSTRY SCHEME

It can take some time to get registered as a sub-contractor with HMRC so allow for about four weeks from the start of the application to your company’s registration. Our advice would be to get in touch with plenty of time to allow us to get everything in place prior to you needing a fully functional CIS payroll system for your business.

 

We can also complete a ‘turnover test’ to establish whether you can register your company for gross payments. This usually means providing evidence of having a minimum of £30k turnover in the past twelve months and could result in you not having to pay the 20% deductions.

 

If you are a sub-contractor, we can help you to claim expenses which could result in a tax rebate from any tax you have already paid under CIS rules. We can either monitor this by using our monthly accounting service or just simply sending us your invoices and expenses, including mileage claims, and we will do the rest.

If you would like a no obligation chat, have any questions or would like some advice, please contact us on 01508 571432.  Or you can visit our office which has free parking.