Construction Industry Scheme (CIS)

CIS Built to Order

Here at Limited Form we provide a comprehensive book keeping service suited to supporting both contractors and subcontractors.  This helps relieve the back office administrative pressure and allows you to focus on delivering your services to your clients giving you peace of mind that the information you supply to us will be recorded correctly and that your statutory requirements are always provided to you in a timely manner so that you can make your payments on time every time.

We work with a wide number of contractors and are equipped to deal with your needs efficiently by making sure we are always up to date with any changes to the CIS regulations.

As a contractor, you are required to meet specific obligations under the CIS scheme, including registering with HM Revenue and Customs (HMRC), also checking whether your subcontractors are registered with HMRC, paying subcontractors, deducting tax and submitting monthly statements confirming these payments.

If you are a subcontractor, your main obligation is to register with HMRC, keep a record of all your income statements throughout the year and carry out your self-assessment at the year end.

Both must also keep HMRC informed of any changes to your business such as changes to your business address, business name, business partners and other relevant information.

Services we provide for Contractors and Subcontractors:

  • Assisting you with the registration process for CIS 6 gross status or as a CIS 4 subcontractor.
  • Invoicing and Deductions

Once you are self-employed, HMRC will have registered you as a subcontractor under the CIS scheme and they will set you up to receive payments “under deduction”. This means as contractors you must make a deduction of tax at 20 per cent or (30 per cent for unverified subcontractors) from the labour element of your invoices and pay it over to HMRC.

  • Verifying you with HMRC on behalf of your contractor.
  • Manage and organise your business records.
  • Prepare your end of year self assessment tax return and calculate your tax liability/ refund where applicable.
  • If retention has been applied by your contractor or you apply retention to your subcontractors we will also keep a record of this for you as part of your Book Keeping
  • If you are a contractor we can verify your subcontractors with HMRC
  • Ensure you pay your subcontractors correctly within the scheme
  • Supply deduction statements to the subcontractors
  • Keep your records in good order and supply HMRC with monthly returns
  • PAYE Payroll & bookkeeping - If a determination is carried out that a worker should be treated as employed for the purpose of the contract, the contractor will need to operate a PAYE scheme whereby tax and National Insurance Contributions will be deducted from the payments made to you which we can administer through our payroll services.

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