Subcontractors Tax Return
Construction Industry Scheme (CIS) Made Easy For You
HM Revenue & Customs have initiated a way to diminish tax evasion by deducting the tax from subcontractors at the source. This system of Construction Industry Scheme (CIS) is not applicable to employees of a company where their taxes are deducted at source under the PAYE scheme.
Construction Industry Scheme (CIS) can be a quite challenging and complicated area for the subcontractors were submitting the correct tax return or requesting a refund for the money held by HM Revenue & Customs could be daunting. Therefore, it is highly recommended for you to seek professional advice.
There are series of processes associated with this legislation of tax where Makesworth can make it crystal clear for the contractors and subcontractors and help them be clear on what exactly they need to pay to HMRC and the tax allowances that could be claimed accordingly.
Benefits For Choosing Makesworth’s CIS Experts
- Guidance with assistance provided to clients for accurate and well-managed payments & deduction record-keeping.
- Contractor’s monthly return (CIS 300) preparation and submission to HM Revenue & Customs
- Contractor / Sub-contractor registration and deregistration with HM Revenue & Customs as required
- Verification of sub-contractors for the contractors
- Payment & Deduction Statements provided to you
We have seen people paying extra on their tax bill which has occurred due to the negligence of under-declaration of their allowable expenses and eligible allowances not being claimed. At Makesworth, we can assure you that our team has an in-depth and extensive experience in Construction Instruction Scheme (CIS) where we aim to take away all your stresses out of CIS with our first-class approach and service.