CIS Contractor and CIS Sub-Contractor Tax

Tax reporting in the construction industry can be more intricate compared to other sectors. We ensure that you are on the right path and fully compliant with the rules and regulations.

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What is the Construction Industry
Scheme (CIS)?

Whether you're an individual or a business operating in the construction industry, you may be familiar with the Construction Industry Scheme (CIS). HMRC mandates that all businesses in this sector register as either a contractor, subcontractor, or in some cases, both. We're here to offer assistance.

HMRC categorizes the following activities under the CIS:

  • Site preparation, including laying foundations and providing access works
  • Demolition and dismantling
  • Construction work
  • Alterations, repairs, and decorating
  • Installation of systems for heating, lighting, power, water, and ventilation
  • Interior cleaning of buildings after construction work

The work being undertaken may relate to both permanent and temporary structures, as well as civil projects, including work on roads and bridges, and so on.

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Contractors - What CIS means to you

If you operate as a contractor and make payments to subcontractors for construction work, HMRC mandates that you register as a contractor, with specific obligations to fulfill. This includes verifying subcontractor HMRC registrations, deducting the required tax amounts for HMRC, and submitting monthly statements to validate all payments.

The intricate administration and the comprehensive understanding needed for compliance with this scheme can demand a significant amount of your valuable time, time that could be better utilized elsewhere.

Leewop are qualified and experienced within this field, able to provide specialist advice and support. Give us a call today and find out what we can do for you.

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Sub-contractors - What CIS means to you

If you operate as a subcontractor within the construction industry, registering for CIS is optional. However, if you choose not to register, contractors will deduct a higher percentage from your payment to remit to HMRC.

The standard rate will be deducted if you're registered with HMRC. If, however, you meet all HMRC's CIS requirements after one year of registration, you can apply for 'Gross Payment Status.' This means no deductions will be taken from payments received from contractors, ensuring your business is paid in full.

If you operate as a limited company with a payroll, your CIS deductions can be offset against PAYE and NI tax due from employees. If a refund is owed to you at the end of the tax year, you will need to request it.

The intricate administration and the comprehensive understanding required for compliance with this scheme can demand a significant amount of your valuable time, time that could be better utilized elsewhere.

Leewop are qualified and experienced within this field, able to provide specialist advice and support. Give us a call today and find out what we can do for you.

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Key service benefits

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Full range of trading options; self-employed, LTD, partnership etc

Expert, jargon-free advisors

Nationwide coverage and dedicated account manager

Training and proactive support

Simple and quick setup process

Specialist experience, knowledge and advice

Why Opt for Leewop for Your CIS Returns?

The administrative complexities involved in registering and managing deductions can be intricate and time-consuming, but Page Kirk can handle all the necessary tasks on your behalf. We ensure that you operate in the most tax-efficient manner, preventing any overpayment to HMRC.

At Leewop, our chartered accountants specialize in CIS returns and can offer comprehensive advice. This alleviates the burden of your HMRC obligations, allowing you to concentrate on securing contracts and receiving payments in a manner that is both convenient and tax-efficient.

  • A single point of contact for all of your enquiries
  • National and international connections
  • A service that is tailor-made for you
  • Quick response time
  • Business heritage dating back over 120 years
  • UK -based accountants with national and international reach
  • Saving you valuable time with technology solutions
  • Hands-on partners who give you the best advice

UK can help you ensure your set up for success. Contact us today for further advice or to discuss the next steps by calling us on +92 302 4012116 or email contact@leewopconsultancy.com.

What’s next?

Arrange a consultation to find out how we can help you. Call us today on +92 302 4012116 or email contact@leewopconsultancy.com.

Talk to Our Team

Transitioning to Leewop is swift and straightforward if you already have an accountant.

Leewop stands out as a leading accountancy practice in the UK, serving clients nationwide. Regardless of your location, our services are accessible to you. We will connect you with a dedicated accountant focused on aiding the growth and efficiency improvement of your business. Get in touch with us to explore how we can assist you today.

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