Contractor Services

As a contractor, managing your CIS responsibilities is crucial for maintaining good standing with HMRC and your subcontractors. Our contractor services include:

01

Registration as a Contractor with HMRC

• We handle the entire registration process, ensuring all necessary information is accurately submitted to HMRC.
• Guidance on your obligations as a CIS contractor, including record-keeping requirements and payment procedures.

02

Subcontractor Tax Verification

• We manage the verification process for all your subcontractors, determining their payment status (gross, standard rate, or higher rate).
• Regular reviews of subcontractor status to ensure ongoing compliance.

03

Monthly CIS300 Return Preparation and Filing

• Accurate preparation of your monthly CIS300 returns, detailing payments made to subcontractors and deductions taken.
• Timely electronic submission to HMRC, ensuring you meet the monthly deadline (14th of each month).
• Reconciliation of CIS deductions with your overall PAYE and NI liabilities.

04

Subcontractor Payment Certificates

• Generation of detailed payment and deduction statements for your subcontractors.
• Ensuring these certificates comply with HMRC requirements and provide clear information to your subcontractors for their own tax returns.

05

CIS Compliance Reviews

• Regular audits of your CIS processes to identify any areas of non-compliance or potential improvements.
• Advice on best practices for maintaining CIS records and managing subcontractor relationships.

06

HMRC Liaison

• Representation in case of HMRC inquiries or compliance checks related to your CIS activities.
• Assistance with resolving any disputes or discrepancies in CIS payments or returns.

Subcontractor Services

For subcontractors, managing your CIS status and tax affairs effectively is crucial for maximising your income and maintaining compliance. Our subcontractor services include:

01

Self-Assessment Registration

• We manage your registration with HMRC for self-assessment, ensuring you're properly set up as a CIS subcontractor.
• Advice on your obligations as a CIS subcontractor, including record-keeping and reporting requirements.

02

Gross Payment Status Application

• Assessment of your eligibility for gross payment status under CIS.
• Preparation and submission of your application for gross payment status to HMRC.
• Guidance on maintaining your gross payment status, including the annual compliance check process.

03

Fixed Fee Accounts and Tax Return Preparation

• Comprehensive preparation of your annual accounts and self-assessment tax return based on your CIS certificates and expenditure records.
• Maximisation of allowable expenses to reduce your tax liability.
• Clear explanation of your tax position and advice on tax planning opportunities.

04

CIS Deduction Reconciliation

• Regular reconciliation of CIS deductions made by contractors against your actual tax liability.
• Assistance with reclaiming overpaid CIS deductions where applicable.

05

Ongoing CIS Compliance Support

• Advice on maintaining proper records of income and expenses throughout the year.
• Guidance on managing your cash flow, considering the impact of CIS deductions.

06

Tax Planning

• Strategic advice on structuring your business affairs to optimise your tax position under CIS.
• Guidance on transitioning from sole trader to limited company status, if appropriate.