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 construction industry workers 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 helps contractors and sub contractors in the construction industry in the following ways:
- Registering CIS contractors with HMRC;
- Verifying your subcontractors with HMRC and providing a CIS verification Certificate for each;
- Submission of monthly CIS300 return to HMRC;
- Managing your Subcontractor requirements such as issuing CIS payslips
- RTI Submission of CIS Suffered to HMRC each month;
- Claiming CIS tax refund or help you to settle against other tax obligations.
- Submission of your tax returns
- Ensuring proper payments from your side;
- Keeping your records and supplying them to HMRC regularly using real time information (RTI).
Whether you are a sole-trader or you work through your own limited company: We have distinct set of services for the construction industry:
We understand the needs of the industry better by working with them over a longer period of time. Therefore, we provide free of cost Quickbooks online accounting software to the contractors who sign up to our fixed monthly accounting fee packages. The software helps you organise your day to day bookkeeping better.
- You can issue your invoices on the go using the Quickbooks app.
- Track your business mileage.
- Connect your bank with the software and forget about downloading bank statements.
Our fixed monthly fee packages ensure that all your statutory requirements are met and ensure you are fully compliant.
Whether you are a contractor or a subcontractor, Fair View Accountants can keep all your CIS related issues in order. Our Online accountancy services helps contractors and sub contractors thought the UK.
Book your fee initial consultation with us to streamline your compliance.