There are special taxes and rules levied by the Construction Industry Scheme (CIS) for subcontractors. Fair View Accountants can help in guiding them on how to handle payments.
The idea of CIS was inculcated and established by HMRC to control tax evasion by deducting tax from the subcontractors at the source. CIS can be a tough business for the contractors so instead of taking this challenge on your own, work with professional accountants who possess the knowledge.
Fair View Accountants can help the contractors in the following ways:
- Registering with HMRC;
- Verifying your subcontractors with HMRC;
- Ensuring proper payments from your side;
- Keeping your records and supplying them to HMRC regularly.
We also have a distinct set of services for the subcontractors:
- Discovering your status as an employee or a subcontractor and registering it with HMRC;
- Verifying you with HMRC on behalf of the contractor;
- Organizing business records;
- Preparing your you for self-assessment returns and calculating the tax liability.
Whether you are a contractor or a subcontractor, Fair View Accountants can keep all your CIS related issues in order. We are available at multiple locations in the UK so you can come to us at any time for assistance.