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Accounting Services for CIS Contractors
Our in-house accountants understand the many issues that CIS Contractors face and will work closely with you. Our systems are designed to make the process of managing everything from your bookkeeping to your self-assessment simple and easy to understand.
We also provide direct access to a dedicated accountant with training and experience in preparing CIS accounts who will ensure that you are running your construction business successfully and compliantly. Get a quote easily today and see how cost-effective choosing QAccounting for your construction business will be.
Specialist Accountant
Hiring a specialist CIS accountant like us brings advantages and benefits to how you operate and makes your life significantly easier throughout the year. We have a rich history in offering accounting services and tax advice, and over the years we have helped many construction businesses.
Why Choose QAccounting as your CIS Accountant?
Our CIS accounting fees are of great value and ensure that your construction business is being accounted for accurately and that all deadlines and responsibilities to HMRC are being met. Our transparency and simplicity mean that you are never hit with any hidden fees or any hidden surprises throughout your time with QAccounting.
Affordable
The cost of our construction accounting services depend on whether you operate as a sole trader/partnership or have set up a dedicated limited company for your construction business. All our fees can be paid via interest-free monthly direct debit and can be upgraded or downgraded at any time. If you would like an immediate, accurate quote, then please feel free to complete our easy-to-use online quote engine.
Dedicated Client Manager
All of our CIS Contractor clients are given access to their own dedicated Client Manager. Client Managers are available to work with you on a day-to-day basis, helping you manage your bookkeeping, taxes and other duties and responsibilities. Your Client Manager can also arrange wealth management consultations with our partners.
Simple
CIS Contractors should be able to operate safely in the knowledge that the money that they earn from their construction business is being accounted for accurately and should always be aware of any money owed to HMRC. Not paying the right tax or missing deadlines causes fines, penalties and often business-critical effects and is something that your accountant should ensure that you avoid. Our services are very simple here at QAccounting, and all the construction clients that we support are made fully aware of their financial position and their tax liabilities and remain in control of their bookkeeping and finances.
Experience
They say that practice makes perfect, and we believe that, too. Here at QAccounting, all our accountants and in-house staff are well-practised and well-experienced in helping CIS contractors run successful construction businesses. QAccounting has existed for over two decades. We feel that the experience we bring with us makes our CIS accounting services for CIS contractors highly valuable and helpful, and we pledge to make the lives of our customers easier.
Reputation
We have been rated five stars by hundreds of our customers. We are very proud of our near perfect reputation in the world of CIS accounting and feel that it is a true reflection of the hard work all our staff and accountants put into making our services great. If you are on the fence about whether you even need an accountant to assist in your construction accounts or haven’t chosen the right provider yet, we advise you to look at our reviews to help you make that decision. There is nothing more important to a new business or even an experienced CIS contractor than ensuring that their income is being withdrawn in the most effective way and their taxes are being utilised efficiently. At QAccounting, that is what we will do for you, giving you peace of mind whilst growing your construction empire.
Personal Touch
We like to think that we have blended state-of-the-art modern-day technology with old-fashioned values when it comes to personal service. Our CIS accountants use straightforward language alongside our fantastic systems to make understanding your accounts and finances as easy and enjoyable as possible. We believe that adding a personal touch to any service is vital, and in the world of accounting, this can mean the difference between getting it right and getting it wrong. Feel free to contact a member of our friendly team Monday to Friday by calling 01162437868. Across our two UK-based offices, you can chat away with our varied teams and get a taste of the vital personal service that we offer.
Dedicated Accountant
At QAccounting, you are paired with your own dedicated accountant with experience and expertise in CIS accounting. You can take advantage of easy access to a dedicated professional to answer any questions you have and offer ongoing support and guidance throughout your time as a client. Don’t get left in the dark when it comes to construction accounting. Join QAccounting today for peace of mind.
Accounting for CIS Contractors
CIS accounting is the task of ensuring that taxes are withheld at source from CIS sub-contractors, accurately reported each month to both sub-contractors and HMRC, and promtply paid over to HMRC. Whether you are a first-time CIS contractor or a veteran, let QAccounting help you to remain compliant.
Trading Privately or Through a Limited Company
It is essential that business owners consider this at the outset, as it can be a very costly process to change structure again in the future!
If you are interested in starting a construction business and would like additional advice to allow you to decide on the most appropriate legal structure for your business then speak to a member of our Accounting Team today!
Responsibilities as a CIS Contractor
As a “CIS Contractor” you have a number of initial and ongoing responsibilities, including:
- Registering for the scheme online before you take on any sub-contractors. Once you have registered HMRC will supply you with the following key employer information:
- Unique Taxpayer Reference (UTR)
- HMRC Payment Office Reference
- HMRC Employer Reference
- Making an accurate determination as to whether each worker is an employee or a sub-contractor. This is important because HMRC may later fine you if they decide you have made the wrong determination.
- Verifying each sub-contractor online before making any payments to them, to determine whether they are registered under the scheme, and determine what rate of deductions to apply. In order to do this the sub-contractor will need to supply their own:
- Unique Taxpayer Reference (UTR)
- National Insurance Number
- Where applicable their company or partnership name, registration number, and UTR.
- Making CIS deductions at the appropriate rate (as advised by HMRC) before making payments to sub-contractors. The deductions should only be charged on the “labour” element of invoices. And sub-contractors must be provided with a payment and deduction statement, and direct payment of the net amount, within 14 days of the end of the month.
- Filing monthly CIS returns with HMRC, or notifying them that no return is due, within 19 days of the end of the month. Penalties for late filing can be quite severe.
- Paying these CIS deductions to HMRC within 22 days of the end of the month.
- Keeping accurate CIS records for all sub-contractors for at least 3 years.
- Letting HMRC know about any changes to your business, including:
- Change of address (personal or business)
- Change your business structure
- Death
- If you stop trading or using subcontractors
As a specialist CIS Accountant, QAccounting offer CIS Contractor Services which fully comply with HMRC’s monthly and annual filing requirements!
Join Us Today
Get in touch with our friendly team today if you want to benefit from our unrivalled experience and affordable services.
CIS Contractors Accounting for One Low Monthly Fee
Trusted
We offer accounting services to construction businesses of all sizes.
Compliant
We will work hard with you to ensure that your businesses are operating correctly and compliantly and taxes paid on time.
Personalised
All our CIS contractor clients are paired with a dedicated Client Manager and Accountant who will ensure a fantastic service.
Recognised
Use provide industry leading CIS accounting for your construction business. We offer specialist guidance and support.
We're Here to Help
Thinking of starting a construction business or already own a construction empire? Contact a member of the QAccounting team today!
