CIS

CIS

We help you understand your obligations and guide you through the CIS process, whether you are a contractor who employs subcontractors or a subcontractor who needs to register with HM Revenue & Customs

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What you need to know

If you are a contractor and you engage subcontractors you are required to meet specific obligations under the scheme, including registering with HM Revenue and Customs as a contractor. You will need to verify your subcontractors are registered with HM Revenue & Customs, paying subcontractors, deducting tax, submitting monthly returns, paying HM Revenue and Customs and providing monthly statements confirming these payments.
 
If you are a subcontractor you need to register with HM Revenue & Customs under the CIS scheme and they will set you up to receive payments ‘under deduction’. This means contractors must make a deduction of tax at 20% (30% for unverified subcontractors) from the labour element of your invoices and pay this over to HM Revenue & Customs.

01 Verify

We can verify your subcontractors so that you deduct the correct amount of tax depending on their individual status

02 Monthly Returns

We can keep your records and submit your monthly return on time with HM Revenue and Customs ensuring you do not incur any penalties for late submission

03 Monthly Statements

We can prepare the monthly statements to provide to your subcontractors which confirms the CIS you have deducted and paid to HM Revenue & Customs

Why Choose CPM Accountants?

Xero Certified

Free Consultation

20 Years Experience

AAT Licenced Member

Always a pleasure to deal with. Very nice manner. Professional, responsive, and quick.

Janie Jackson

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