Are you a contractor in the construction industry looking for expert financial guidance? If so, our team of CIS accountants can help you take home as much of your hard-earned money as you can – legally.
What is the CIS Scheme?
The Construction Industry Scheme (CIS) is a tax deduction scheme operated by HMRC for the UK construction industry. It sets out the rules for how payments to subcontractors for construction work must be handled, including various tax deductions. Understanding and complying with CIS regulations is required for contractors and beneficial for subcontractors in the construction sector.
Accountants for the Construction Industry Scheme
As experienced accountants for construction professionals, Gardner Webb Accounting offers comprehensive CIS support so that you’re always compliant. Our team of accountants for contractors specialise in:
- CIS Registration: We’ll guide you through the process of registering for CIS, whether you’re a contractor or subcontractor.
- Tax Efficiency: Our experts will help you structure your finances to minimise tax liability while staying fully compliant with HMRC regulations.
- Paperwork Management: We’ll handle all your CIS-related paperwork, from issuing invoices to maintaining up-to-date bookkeeping.
- Strategic Financial Advice: Our accountants will provide tailored advice to help you make informed decisions about your business structure and financial strategy.
What are the Benefits of Having a CIS Registered Limited Company
- Lower Deduction Rate: Monthly deduction rate of 20% instead of the standard 30% for non-CIS registered individuals.
- Gross Payment Status: The chance to apply for gross payment status – allowing you to enjoy the additional payment benefits of a limited company
- Dividend Payments: As a shareholder of your own limited company, you can pay yourself dividends, potentially reducing your tax burden.
- Expense Claims: Making expense claims for items such as tools and equipment for your construction work
- Pension Contributions: Benefit from tax relief on pension contributions.
- Financial Control: Additional tax savings and flexibility and control over your finances
- Financial Management: We’ll take care of all the CIS paperwork. We’ll issue invoices and make sure your bookkeeping is right up to date.
Our CIS Services
We offer a full range of CIS services tailored to meet the unique needs of construction industry professionals:
- CIS registration assistance
- Monthly returns and submissions
- Tax planning
- Bookkeeping and accounting
- Payroll management
- VAT returns
- Year-end accounts and tax returns
- Business structure advice
Our team of expert CIS accountants combine in-depth knowledge of the construction industry with cutting-edge accounting practices to help you stay compliant with Construction Industry Scheme regulations, help you maximise your take-home pay, minimise your tax liability, and allow you to focus on your business while we take care of all your CIS admin. Get in touch today, you’ll be pleased you did.
Are you looking for an accountancy service provider who’s on the ball and responsive - one who will save you both money and time? Get in touch. You’ll be pleased you did.
Tel - 01604 642727 or 01933 754050
Email - hello@gwaccounting.co.uk