If you’re searching for CIS Accountants to help your construction business to submit CIS Returns, you are in the right place.
We help contractors in Eastbourne, Hastings, Seaford, Uckfield and the wider area of East Sussex, with CIS returns.
By using ECK as your CIS Accountants / Bookkeepers, we will:
- explain all your responsibilities in plain English
- ensure you meet all your monthly deadlines
- report everything that is required to HMRC
- verify subcontractors on a monthly basis
- provide subcontractor deduction certificates each month
CIS returns need to be completed accurately and to deadlines. It makes sense for you to be doing other work that is your main skill set, so why not let us take the strain?
The role of CIS Accountants
Under the Construction Industry Scheme (CIS), contractors deduct money from a subcontractor’s payments and pass it to HM Revenue and Customs (HMRC).
The deductions count as advance payments towards the subcontractor’s tax and National Insurance.
As CIS Accountants, we can advise you that:
- A contractor who uses subcontractors to carry out construction work should register for CIS with HMRC.
- A subcontractor can be a self-employed individual or a company that carries out construction work for a contractor
- Subcontractors should also register with HMRC under the Construction Industry Scheme. Subcontractors don’t have to register, but deductions are taken from their payments at a higher rate if they’re not registered 30% instead of 20% for registered subcontractors
- Pay subcontractors and submit monthly CIS returns
- Pay CIS to HMRC
- Each month or quarter you should offset your CIS liabilities against your PAYE/NICs payments. This will either reduce your CIS payments or eliminate it fully!
- If your liability is reduced to nil and there are still some unused CIS deductions that have not been offset, you should carry these forward to the next month or quarter, within the same tax year. Don’t forget to tell HMRC that you have no liability to pay over for that period
- If the company’s CIS deductions available for offset in any month or quarter do not cover the whole of the company’s liability for that period, you must pay over the balance to HMRC by the usual payment date.
Excellent service – competent, flexible and professional. Liz is a pleasure to work with.
Jeremy Moore – East Sussex