C.I.S. (Construction Industry Scheme) is the term used to describe tax payments stopped from Sub Contractors payments
If you are either a Contractor or Sub Contractor, you will know that in the majority of cases, tax is stopped from payments you make and passed over to HMRC on a monthly basis.
The rules surrounding whether you are classed as a Sub Contractor can be complex. So its important to have an accountant on board who can advise you and your obligations.
We can provide a C.I.S. Monthly return submission service for Contractors, or if you are a Sub Contractor, we'll calculate the tax stopped on your payments and prepare your Self Assessment for you.
Your personal allowance is not taken in to account when tax payments are stopped from your income, and neither are the expenses you have incurred, therefore we take those in to account when preparing your tax return.
In a lot of cases, Sub Contractors will have overpaid tax which has been stopped from your payments, we'll make sure HMRC issue any tax refunds directly to you.
Further services we offer
Preparation and Submission of C.I.S monthly returns
Detailed analysis of payments due to HMRC