Construction Industry Scheme (CIS) Services

At Virtax Accountants Limited, we provide tailored services for contractors and subcontractors under the Construction Industry Scheme (CIS). Our expertise ensures compliance with HMRC regulations while helping you manage your finances effectively.

Our CIS Services Include:

• Registering you with HMRC as a contractor and/or subcontractor.
• Verifying subcontractor details with HMRC.
• Ensuring accurate payment to subcontractors within the scheme.
• Providing deduction statements to subcontractors.
• Maintaining accurate records and submitting monthly returns to HMRC.
• Immediate CIS tax return services to calculate tax liabilities or refunds, ensuring timely payments to avoid penalties.

Services for Contractors:

Contractors must meet specific obligations under CIS, including:

• Registering with HMRC.
• Checking subcontractor registrations with HMRC.
• Paying subcontractors after deducting tax and submitting monthly statements.

We stay updated on CIS regulations to notify you of any changes that may impact your business.

Services for Subcontractors:

Subcontractors are required to:

• Register with HMRC.
• Inform HMRC of changes to their business details (e.g., address, name, partners).

We assist subcontractors with:

• Determining your status as a subcontractor, employee, or both.
• Registering you with HMRC and verifying you on behalf of your contractor.
• Managing and organizing business records.
• Preparing year-end self-assessment tax returns and calculating tax liabilities/refunds.

Important CIS Information:

• For Contractors:
  Contractors must determine the employment status of subcontractors for each contract.

  • If employed: PAYE applies.
  • If self-employed: Subcontractors are registered under CIS with HMRC, and contractors deduct 20% tax (30% for unverified subcontractors).

• For Subcontractors:
  Keep receipts and evidence for allowable expenses to claim tax relief, as HMRC may request these documents during audits.

Why Choose Virtax Accountants Limited?
Whether you’re a contractor or subcontractor, Virtax Accountants Limited ensures your CIS affairs are compliant and efficient. We also educate you on claiming expenses as a contractor working through a limited company.

Contact us today to streamline your CIS processes and manage your business finances with confidence.