Construction Industry Scheme – CIS Management
If your business operates within the scope of the Construction Industry Scheme (CIS), then you must register for CIS either as a sub–contractor, a contractor or in some cases, as both. CIS deductions must be made from sub–contractors and paid by contractors. There is a requirement for monthly CIS returns to be made and payments submitted on behalf of your sub–contractors.
Apex Accountants has many clients in the construction industry and that particular industry is an area of specialism. With Over half of our clients in the construction industry, Apex is well versed in the requirements and responsibilities of this industry-based tax.
Apex Accountants will manage your CIS function and advise the most efficient way of handling the liability. Apex Accountants will:
- Register your business for CIS
- Verify your sub–contractors and contractors
- Ensure that the correct rate of deduction is made
- Manage all deductions and payments at source
- File monthly CIS returns
- Prepare deduction statements for CIS sub–contractors
CIS deductions can be made at various rates, so it is important that your business is aware of the correct rates and processes for all of its contractors and sub–contractors. Apex Accountants can manage this function for your business, allowing you to focus on the construction of your business empire.