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Fixed Fee Pricing

CONSTRUCTION INDUSTRY ACCOUNTING

Dedicated Accounting from £120 per month depending on business size and number of subcontractors

From £120
Per Month

CIS COMPLIANCE

Ensure sub-contractor CIS compliance

£50
Per Sub-contractor

Construction Industry Accounting

From £120 Per Month

We use award winning cloud-based software providing time saving automation including bank feeds and a mobile app. It is important to plan-ahead and understand your business profitability and a dedicated accountant will support you in doing so. Personal and business taxes are also managed by the team.

  • Xero Standard Subscription
  • Monthly Summary of CIS Sub-Contractor Deductions.
  • Annual Summary of CIS Sub-Contractor Deductions.
  • Monthly Submission of CIS Sub-Contractor Returns to HMRC
  • Dedicated Client Manager
  • Dedicated Accountant
  • Registered Office Address
  • Bookkeeping
  • Annual Accounts
  • Monthly / Quarterly VAT returns
  • Payroll
  • Annual Self-Assessment for 2 Directors

CIS Compliance

£50 Per Sub-Contractor

HMRC are undertaking more non-compliance audits as they seek to recover employer’s national insurance from the contractor where sub-contractors are deemed not to be self-employed. The subcontractor must have self-employed status, if challenged by HMRC the contractor has the National Insurance liability exposure and not the contractor. It is important for the contractor that subcontractors have public liability and tax enquiry insurance to ensure their self-employed status.

Status Compliance services provided based on requirements. We can arrange a CIS Compliance check of your business and assist in providing the following services each of which supports subcontractor self-employed status.

There are large numbers of contractors who are unaware of the risks. Contractors are possibly also unaware of the scale of the exposure.

The Importance of Compliance

A Contractor engages 10 subcontractors on £30kpa. Employees NI 12% Employers NI 13.8% total 25.8%

If non-compliant the contractor has to pay class 1 NIC for each subcontractor

= £24k ( amount over LEL) x 25.8% = £6.2k per man x 10 men = £62k x 6 years ( maximum HMRC can go back )

= £372k plus interest and penalties circa £500k estimated HMRC liability 

Contractor CIS Compliance Services

  • Initial Assessment of Sub-Contractor Supervision, Direction, and Control.
  • Signed Contract for Sub-Contractor Services
  • Signed Statement of Working Practices this document is signed by both Contractor and subcontractor and re-enforces the contract between parties and prevents HMRC direct access to each subcontractor
  • Provision of a Self-Billing Invoice Template to be used when they Submit Invoices.

Arrange A Callback

For more information on our accounting for the construction industry, please complete the form below and a member of our dedicated team will happily answer any questions you may have. Or alternatively, call us now on 0116 243 7868

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