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 both.
There are strict filing deadlines when filing the monthly CIS returns to HMRC 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 can relieve you from the stress of completing the returns and provide your sub-contractors with their monthly CIS deduction statements.
We also complete the relevant Employer Payment Summaries (EPS) to claim back the CIS tax suffered by a limited company, so you are relieved of the stress of claiming the tax owed at the end of the financial year.
PH Accountancy can relieve you of all the stress associated with completing HMRC compliance. We will ensure all of the requirements are met and the correct forms are submitted on time.01227 277 667