any firm which spends a considerable amount of money each year on construction
CIS, which stands for Construction industry Scheme, has a number of unique rules which have been designed by the tax office for payments made by contractors to sub-contractors in the construction industry.
CIS applies to contractors, sub-contractors and any firm which spends a considerable amount of money each year on construction, even if this company doesn’t operate in the construction industry.
This sum involved is an average spend of at least £1m a year over three years. A business that is involved with the construction sector will likely need to be registered with HMRC with respect to CIS, but we can help on this matter.
Given that different rules apply to contractors and sub-contractors, there is a need to know which you are and then register in the correct manner. Our CIS Payroll services ensure that all of your paperwork needs are met and undertaken on your behalf.
It may be that you operate as a contractor and a sub-contractor, depending on your roles, and this is an area where many professionals or businesses get confused.
If you are looking to take the confusion out of the process, call on Finance Guru and rely on us to ensure that you are correctly registered and complying with all relevant requirements.
This provides you with confidence that your needs are being met by your own company but also that they are fully complying with rules and regulations set out by HMRC.
If this sounds good to you, we’ll be delighted to hear from you, so please get in touch.