What We Do:
- For contractors: verify that your subcontractors are registered with HMRC, deduct the correct amount (if required), submit your monthly CIS returns, provide subcontractors with deduction statements.
- For subcontractors: help you retain proper records of payments, check whether deductions have been made, ensure you claim refunds or adjustments if you’ve overpaid, prepare your CIS summary for self‑assessment.
- Ensure payouts and deductions align with HMRC rules, keep you compliant with HMRC reporting standards.
Deliverables You Receive:
- Your monthly or quarterly CIS returns submitted.
- Deduction statements for subcontractors (if you are a contractor).
- A report showing CIS deductions made, payments received, any overpayments and refunds owed.
- Advice on how to reduce tax liabilities via correct deductions or expense claims valid under CIS.
Why It Matters:
- Non‑compliance or incorrect deductions can lead to fines.
- Ensures subcontractors get the correct treatment (deductions, refunds).
- Good records help if HMRC reviews your CIS compliance.
- Ensures you properly budget for the amounts to deduct and pay.