There are special tax rules which govern those operating in the Construction Industry known as the Construction Industry Scheme (CIS). The scheme sets out the rules for how payments to subcontractors for construction work must be handled by contractors in the Construction Industry.
The scheme applies mainly to contractors and subcontractors in mainstream construction work, but will also apply to businesses/organisations not in construction but who have a high annual spend on construction. Such businesses are ‘deemed contractors’ within CIS. It is possible to be both a contractor and a subcontractor within CIS.
The contractor and subcontractor have a number of obligations and responsibilities.
If you are or want to be a sole trader within CIS with no more than one invoice per week the standard tariff of fees will apply. In all cases you should contact us for the appropriate registration form and where applicable non-standard tariff fees will be quoted on request.
- Self Assessment (Personal Tax Return)
- Registration with HMRC of Sole Trader business
- Assistance with opening a business bank account
- 64-8 (Acting as the sole trader’s Agent)
- Administrative Office
- Dealing with annual Accounts
- Tax and sole trader administration advice
- Accountant Reference letter (Visas, Mortgages, Tenancy)
- Registration of PAYE scheme, PAYE/NI Calculation
- Preparation and filing of PAYE Returns (P60, P35, P14, P11′s)
- Invoicing
- Credit Control
- Pay calculations
- Payslips & Dividend Vouchers (PDV)
- Payroll
