Construction Industry Scheme
If you work in the building trade you will be aware of the Construction Industry Scheme also known as CIS. Under this scheme contractors deduct CIS from sub-contractors and pay it to HMRC on the Subcontractor’s behalf. This is tax that is paid in advance.
What is CIS?
Unless you are paid “Gross Status” you will have CIS tax deducted directly from your income. As standard, the CIS tax deduction for verified sub-contractors is 20%, and 30% for those that are not verified.
Contractors and sub-contractors need to register for CIS with HMRC. Contractors then need to file a monthly CIS return, showing payments and deductions and provide their Subcontractors with CIS Payment Certificates.
At the year end the sub-contractor can offset the CIS suffered against their Self-Assessment Tax Return and in many instances the Subcontractor will receive a tax rebate.
CIS Verification
We can verify new sub-contractors on your behalf. If you process your own CIS returns then you can verify Subcontractors yourself via your HMRC Government Gateway or via your CIS software.
CIS Returns
If a4c operate your CIS scheme, then we can help calculate your monthly CIS returns, saving you the trouble. We can also verify new subcontractors on your behalf and help manage your CIS documentation.
CIS Refunds
We are able to submit CIS refund claims for you and deal with all relevant paperwork. We provide a quick, professional & hassle-free service and will deal with HMRC on your behalf so you don’t need to worry about a thing.
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