Construction industry scheme

Building a strong
tax record

Running a construction business takes a lot of work, so the last thing you want to do and the end of your day is to sit at a desk and go over your taxes. It’s laborious in its own right.

Managing your subcontractors and whether they’re part of the construction industry scheme (CIS) can take a lot of menial calculation work. But, it’s crucial for you as an employer if you want to stay in the good graces of HMRC.

We’ll share the load and take care of all your CIS needs, whether making the deductions ourselves or even preparing and filing your statements with HRMC.

Registered subcontractors will have to ensure that their 20% tax rate is withheld for HMRC, as opposed to the 30% for unregistered workers. Your records will also be incredibly important to keep on top of as they will form a clearer picture of your finances over the year.

This will all tie in with your annual accounts. If any CIS has been overpaid throughout the year, you’ll be able to reclaim it as either a rebate or refund. The last thing you want to do is miss out on your hard-earned money.