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CIS Contractor and CIS Sub-Contractor Tax

Tax reporting within the construction industry can be more complex than in other sectors. We can make sure you’re on the right tracks and fully compliant with the rules.

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What is the Construction Industry
Scheme (CIS)?

If you or your business operates within the construction industry, you may or may not have heard of the Construction Industry Scheme (CIS). HMRC requires all businesses who operate in this sector to register either as a contractor/subcontractor or, in some cases, as both. We’re here to help.

HMRC considers the following work to be included under the CIS:

  • Preparing the site - for example, laying foundations and providing access works
  • Demolition and dismantling
  • Building work
  • Alterations, repairs and decorating
  • Installing systems for heating, lighting, power, water and ventilation
  • Cleaning the inside of buildings after construction work

The work being undertaken can be in relation to both permanent or temporary buildings as well as civil projects including work on roads and bridges etc.

Accountancy

Contractors - What CIS means to you

If you’re operating as a contractor and paying subcontractors for construction work, then HMRC require you to register as a contractor and you are obliged to meet specific obligations. This will include checking subcontractor HMRC registrations, deducting required tax amounts for HMRC and submitting monthly statements to confirm all payments.

The complex administration and required understanding of this scheme can take up a lot of your valuable time, which could be better spent.

Page Kirk 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’re operating within the construction industry as a subcontractor, you are not required to register for CIS, but if you don’t, then contractors will deduct a higher percentage from your payment to HMRC.

The standard rate will be deducted if you’re registered with HMRC. If, however, you are meeting all HMRC’s CIS requirements after one year of registering, then you will be able to apply for ‘Gross Payment Status’. This means no deductions will be taken from payments received from contractors, allowing your business to be paid in full.

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

The complex administration and required understanding of this scheme can take up a lot of your valuable time, which could be better spent.

Page Kirk 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 choose Page Kirk for your CIS Returns?

The administration required in registering and arranging deductions can be complicated and time-consuming, but Page Kirk can complete all the necessary work on your behalf. We can ensure that you are working in the most tax-efficient way possible to ensure you don’t over-pay HMRC.

At Page Kirk, our chartered accountants are experts in CIS returns and can provide you with all the advice you need, taking the hassle out of your HMRC obligations so that you can focus on getting contracts and getting paid in a way 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
  • Nottingham-based accountants with national and international reach
  • Saving you valuable time with technology solutions
  • Hands-on partners who give you the best advice

Nottingham 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 0115 955 5500 or email enquiries@pagekirk.co.uk.

What’s next?

Arrange a consultation to find out how we can help you. Call us today on 0115 955 5500 or email enquiries@pagekirk.co.uk.

Talk to Our Team

If you already have an accountant, it’s quick and easy to switch to Page Kirk.

Page Kirk is a leading accountancy practice in Nottingham, but we service clients across the country, so wherever you are based, we can help. We will assign you an accountant to assist you in growing your business and improving its efficiency. Contact us to find out how we can help you today.

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From ensuring that you comply with your statutory requirements, to navigating the scaling-up of your business, through to effective profit extraction and dealing with your tax affairs, Page Kirk Nottingham accountants are here for you every step of the way.