PH Accountancy

CIS

The Construction Industry Scheme (CIS) sets out the rules for how payments to sub-contractors for construction work must be handled by contractors in the construction industry. The scheme applies mainly to contractors and sub-contractors in mainstream construction work.

The Construction Industry Scheme (CIS) is a set of special rules for handling payments for construction work that contractors make to sub-contractors. The scheme covers all ‘construction operations’ carried out in the UK as well as other related work. If your business is involved in construction operations, you might operate as a contractor or sub-contractor or as both.

There are strict filing deadlines when filing the monthly CIS returns to the Inland Revenue and failure to comply with these will result in a fine, even if the deadline goes over by just one day. Here at PH Accountancy, we relieve you from the stress of completing the returns and provide your sub-contractors with their monthly CIS deduction statements.