Our professional CIS specialists are trained to support you throughout the process of CIS tax returns, unavoidable in the building industry. Making only one mistake can end up with paying much more tax than you should. Our expertise in this field along with professionalism and experience in working with construction workers will provide you with the highest standard of CIS tax returns.
Initiated by HMRC CIS is designed to protect construction workers from false employment. The process includes deducting money by contractors from subcontractor’s payments towards tax and national insurance.
Contractors include property developers and builders but do not have to be limited to this. Not construction-based businesses with annual spending more than £1 million per year or construction work over three years may also need to be CIS registered.
A subcontractor however, is a person under the duty to the contractor to carry out construction operations or provides staff to perform these operations, receiving payments under the contract with the contractor.
Both parties should register for the scheme, contractors are obligated by the law and subcontractors in order to avoid higher rate deduction payments.
The CIS rules and regulations makes it a long and complicated process resulting with penalties for failures of meeting the obligations which are also very difficult and expensive to resolve.
M&B Tax services makes this process easy and comfortable for you by taking care of:
Gross payment status application
Legal and contractual matters
Avoiding contractor downtime, and maintaining the morale of your workforce