A complete CIS Returns service for both contractors and sub-contractors

Because working in the construction industry need not be more complex.

We file your returns along with all your other HMRC submissions and produce all CIS documentation

A CIS Return for both Contractors and Subcontractors is optional in all of Accounting Wise’s competitively priced packages

If you work in the construction industry, there’s a good chance you’ll need to register under HMRC’s Construction Industry Scheme (CIS). This ensures the correct tax and National Insurance payments are being made.

Our CIS service has been designed to streamline the whole process for contractors and subcontractors working in the construction industry. Just sign up, send us your information every month and we’ll take care of the rest.

Our CIS service covers:

  • CIS monthly filings
  • Yearly CIS reclaim management
  • CIS deduction statements
  • HMRC Subcontractor verification

Our expert CIS accountants will ensure you are paid correctly, with the right tax deductions to comply with HMRC’s regulations.

What is CIS?

CIS applies to most workers in the construction industry. If you are a contractor you will need to deduct CIS tax from your subcontractors and submit CIS Returns to HMRC. If you are a subcontractor you will need to complete a tax return and claim your CIS refund.

CIS Return

Contractor

If you are a contractor within the construction industry then you will have to submit a CIS Return before the 19th of each month. A CIS return lets HMRC know how much CIS tax you have deducted from your sub-contractors and therefore how much you owe to them.

Unfortunately the penalties for late submissions are high. If it is one day late the penalty is £100 and if it is more than 2 months late a further £200 is payable with further penalties the longer it remains un-submitted. This is why it is very important that you put in place arrangements either yourself or for a professional to complete your CIS Returns on your behalf.

Subcontractor

If you are a sub-contractor in the construction industry you are required to complete a personal tax return each year. The tax return tells HMRC how much you have earned, how much expenditure you have incurred and how much CIS tax you have already paid.

As a sub-contractor it is likely you are entitled to a tax refund each year as you will have paid more in CIS tax than you owe to HMRC.

Benefits of using Accounting Wise

Some of the benefits of using Accounting Wise to handle your tax affairs are:

Peace of mind

By using professionals you know that your CIS return will be correct and accurate.

Investigations

You are less likely to be investigated by HMRC if you use an adviser, as HMRC have ways of knowing if figures submitted on a CIS return are likely to be incorrect. This is a common trigger for a tax investigation.

Save time

In most cases it will take you a lot longer to complete your own CIS return than it would for an adviser. This time could be better spent running your business.

Reviews from google.com

    review rating 5  I have been using Accounting Wise for the last few years now they have helped me stay on top of my accounts, I now have a simple process which saves me hours of personal time all thanks to there expertise and friendly effortless service. Highly recommend

    thumb lee thompson
    3/11/2018

    review rating 5  Great accountant, the service was incredible highly recommend them.

    thumb Tanina Giannone
    3/16/2018

    review rating 5  I have been using Accounting Wise for the past 3 years and have nothing but positive feedback. Ian is contactable at all hours and responds in a very fast manor. He takes time out to answer any queries and is very approachable and professional. Highly recommend!

    thumb Sinead Brophy
    6/22/2018

    review rating 5  We have been using Accounting Wise since May 2016 and cannot fault attention to detail. Vending Sense Group Limited would recommend his services to anyone looking for a professional Accountant.

    thumb Sam Marra
    4/16/2018

Our Accreditations

You can feel safe in the knowledge that we are experts in our field.

Our accountants have a range of qualifications from the Association of Accounting Technicians (AAT), Association of Chartered Certified Accountants (ACCA) and the Institute of Chartered Accountants in England and Wales (ICAEW). We are also an Institute of Certified Practising Accountants (ICPA) accredited firm, and a HMRC registered Agent.