- Smooth Feathers Accountants
- 268 Bath Road, Slough. SL1 4DX
The CIS sets out the guidelines as to how payment to subcontractors should be handled by contractors in the construction industry.
Our team can manage your monthly returns and records under the CIS rules – leave all your CIS worries to us and you just need to concentrate on your core business actions. That’s a promise!
The rules under this scheme apply solely to contractors and subcontractors in the mainstream construction domain. However, businesses whose annual spend goes to construction work also fall under this domain.
As a contractor, you need to enroll yourself under the scheme, ensure whether your subcontractors are registered with HMRC, paying your subcontractors and putting forward the monthly CIS Returns.
Register yourself as a contractor if:
You may be a sole trader or run a partnership or own a limited company.
We’ll take care of all the rules you must follow being a contractor like filing monthly returns, and safe keeping CIS records, making deductions from subcontractor’s payments for HMRC, business changes, etc.
As a subcontractor, it is a must for you to register with HM Revenues & Customs (HMRC). You can then get your tax slashed from your earnings as per the rate on your status.
You need to register for CIS if you work for a contractor and is:
A contractor makes 20% cut from your payments and passes it to HM Revenue and Customs (HMRC). These pay cuts count as advance payments for your tax and National Insurance bill.
In case you do not register for CIS, contractors must cut 30% from your payments. You can also apply for Gross Payment Status if you don’t feel like making advance payments.
CIS pans to major construction work for:
Let us take care of the registration & rules, monthly returns and records. Enjoy the peace of mind with us!
Smooth Feathers Accountants is a premier firm of Accountants and Tax Consultants in the United Kingdom. Our team provides a broad range of expert solutions for small and medium scale companies, individuals, start-ups and non-profit organizations.