HMRC administers the Construction Industry Scheme (CIS), regulating payments flowing between building contractors and subcontractors.
Both parties will need to register with the scheme, which covers anything from permanent buildings to temporary structures and civil engineering projects.
All CIS contractors are obligated to make monthly returns. Let Surrey Accountancy get everything under control on your behalf.
We’ll also help you verify subcontractors for payment purposes. There are plenty of special rules when it comes to making payments, which can get pretty overwhelming – like the fact that main contractors must keep a portion of the pay as CIS tax. You also need to submit CIS returns online.
So to avoid costly mistakes, contact us today.
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