CIS Accountants – Ultimate Guide to the Construction Industry

Our ultimate guide to CIS tax will explain everything you need to know about the construction industry as a contractor and subcontractor.

We explain how the scheme affects all businesses in the construction industry. For any business new to construction this detailed guide will simplify the tax rules so you’ll know what to expect with CIS.

WHAT IS CIS TAX?

We explain what CIS tax is, what construction work is covered by the scheme and how it affects both contractors and subcontractors.

WHAT ARE THE CIS TAX RATES?

There are 3 different types of CIS tax rates applicable. We explain the different Construction Industry tax rates of 30%, 20% and 0%.

CONTRACTOR & SUBCONTRACTOR

Contractors and subcontractors are different. You will have heard of both business types but how are they different?

EMPLOYEE OR SUBCONTRACTOR

Are your workers an employee or a subcontractor? Contractors can face large tax bills if the employment status is incorrect.

HOW TO REGISTER AS A CONTRACTOR?

We explain how you can register your business as a contractor for CIS. When do you need to register as a contractor with HMRC?

HOW TO REGISTER AS A SUBCONTRACTOR?

How do you register as a subcontractor? We explain the process for all business types including Companies, Partnerships and Sole-traders.

GROSS PAYMENT STATUS – SHOULD I APPLY?

With gross payment status there are no deductions made by contractors. This improves cash-flow, business reputation and paperwork!

CIS TAX DEDUCTION CALCULATOR

This calculator will calculate the CIS tax deductions. An easy to use calculator that includes tips to ensure you deduct the correct CIS tax.

CIS CALCULATION EXAMPLES

We show a couple of examples on how to calculate the CIS tax on a subcontractors invoice. It includes labour, materials and VAT.

QUALIFYING CIS MATERIALS

Qualifying CIS materials don’t suffer any CIS tax deductions. What materials qualify and the pitfalls you need to avoid?

REVERSE CHARGE VAT SOLVER

What is Reverse Charge VAT for the Construction Industry? This simple tool will inform you when to apply the VAT reverse charge.

SUBCONTRACTOR VERIFICATION

To ensure the correct tax is deducted contractors must complete a subcontractor verification. We will explain how to complete this process.

PAYMENT & DEDUCTION STATEMENT

A payment and deduction statement is the document which proves how much CIS tax has been deducted by the contractor.

MONTHLY RETURN

A CIS monthly return contains the details of each subcontractor paid. We will show you how to complete and submit the monthly returns.

HMRC CIS PAYMENT

Contractors need to pay CIS to HMRC on a monthly or quarterly basis. We will show you the options on how to make the CIS payment.

CIS REPAYMENTS

Improve your understanding of CIS repayments with this step-by-step guide. Get all the information you need to complete your CIS reclaim.

CIS PENALTIES

A CIS penalty of £100 is issued to contractors who file their monthly returns just 1 day late. This can increase to up to £3,000 per a return.

GET A QUOTE

We understand the burden the scheme places upon contractors and subcontractors who just want to run their business.
Appoint CIS Accountant experts who can assist with the paperwork and provide you with peace of mind that your paperwork is in hand.

FREQUENTLY ASKED QUESTIONS

Still confused? These are the most frequently asked questions regarding the Construction Industry Scheme to assist both Contractors and Subcontractors.

HMRC CIS PAYMENT

Contractors need to pay CIS to HMRC on a monthly or quarterly basis. We will show you the options on how to make the CIS payment.

SUBCONTRACTOR VERIFICATION

To ensure the correct tax is deducted contractors must complete a subcontractor verification. We will explain how to complete this process.