If you work in the construction and building trade, you’ll no doubt be aware of the Construction Industry Scheme (CIS).

This requires all contractors to fully assess the status of all sub-contractors to ensure they are self-employed, along with reporting and documentation requirements. It applies to a whole range of building and construction trades, including:

Builders  |  Developers  |  Contractors  |  Plumbers  |  Electricians  |  Roofers  |  Bricklayers  |  Carpenters  |  Glaziers

And many more.

Why Sub-Contractor Checks Are Important

Just because a worker comes to you for work as an individual and not via an agency, it doesn’t mean they are technically self-employed. The HMRC have strict rules on what does and does not constitute self-employment. If you, as the Contractor don’t get the assessment right, HMRC can issue a penalty and demand back tax from you.

At Heelan Associates, we understand the stress and time involved in these checks can cost your business both time and money. So, we offer a comprehensive CIS accounting service which includes:

  • Submission of monthly CIS returns
  • Verification checks with HMRC
  • Reclaiming CIS deductions that you have suffered on your behalf
  • Advice on how to assess your sub-contractor’s status
  • Correct record-keeping
  • Calculating what tax (if any) to pay, how and when to pay it

Are you a Sub-Contractor?

As a sub-contractor, you’ll need to establish your own self-employed status, so you can claim back any deductions made by your contractor quickly and easily.

The team at Heelan Associates can help you with:

  • Informing HMRC of your self-employed status
  • Acquiring your unique taxpayer reference number
  • Reclaiming ‘under deduction’ payments made on your behalf
  • Keeping accurate records of your deduction statements and bank statements
  • Completing your year end self-assessment form
  • Helping you reclaim any overpaid tax and/or reducing your overall tax liability

MORE SERVICES FROM HEELAN ASSOCIATES

Accounting | Book-keeping | Payroll | Pensions | Tax Returns

HOW CAN HEELAN ASSOCIATES HELP MY BUSINESS?

If you’re starting up your own contracting business or looking to streamline your accounting or book-keeping processes, Heelan Associates can help your business at any stage. Find out how below:

For Starting Out

Starting up from scratch or sole trader migrating to Limited Company?

Find out how Heelan Associates can help you get started.

FIND OUT MORE

For Change

Established business looking to review your suppliers or streamline your processes?

Find out how Heelan Associates can help simplify your business processes, or enable you to move on to the next stage.

 

 

FIND OUT MORE

USEFUL READING FOR THE CONSTRUCTION INDUSTRY

For Starting Out

Starting up from scratch or sole trader migrating to Limited Company?

Find out how Heelan Associates can help you get started.

FIND OUT MORE

For Growth

Already set up and looking for help navigating the waters as you grow?

Hiring your first team member or need to formalise your accounting?

Find out how Heelan Associates can help you grow to your next milestone.

FIND OUT MORE

For Change

Established business looking to review your suppliers or streamline your processes?

Find out how Heelan Associates can help simplify your business processes, or enable you to move on to the next stage.

FIND OUT MORE