Eminent online accountants for contractors and freelancers at your service!
CIS contractors have a distinct set of accounting and tax return compliances to follow in contrast to regular businesses. Our premier accountants are well acquainted with the ABCs of the CIS scheme in the UK and can be your helping hand to deal with the countless conformities responsible contractors have to handle.
Get your CIS Contractors tax return by the expert!
Crawley’s Best Tax Accountants For CIS Contractors Tax Return
Services
Highlights of our tax and accounting services for CIS contractors!
Gatwick Accountant understand the complications that CIS contractors have to deal with in their day-to-day operations. We offer them impeccable assistance to manage their wide-ranging accounting and tax requisites conveniently. Some of the key highlights of our services include:
Substantial experience of working with CIS contractors
Our team of professional CAs and ACCAs have an impressive experience of handling various tax and allied financial matters of CIS contractors. You can leverage our prowess to grow your own business.
Technology driven work approach
We believe in merging the power of technology in all our operations to accelerate productivity and progress. CIS contractors who partner with us have the best tax and finance software at their disposal.
World-class tax mastery
There are multiple tax nuances that CIS contractors have to deal with in their day-to-day life. We have the required know-how to deal with all forms of tax affairs with total accuracy.
Round the clock consultation for handling timely HMRC compliance
We all want to keep the HMRC happy to avoid unwanted penalties and assessments. Gatwick accountant offers timely consultancy for CIS contractors to manage their diverse compliances.
What do you mean by the Construction Industry Scheme (CIS)?
The CIS aka the Construction Industry Scheme is a unique initiative for individuals operating in the construction industry in the UK. Under this tax deduction scheme, registered contractors are responsible to deduct CIS taxes from the payment they make to subcontractors. They then deposit this money in turn with the government authorities.
HMRC considers this tax as an advance against the subcontractors’ taxes and national insurance. Irrespective of their organizational status, contractors have to register under CIS if they have spent over £3 million on construction work in the preceding 1 year since their first payment to subcontractors. It is not mandatory to have a construction based organization to undertake the CIS scheme. Anybody undertaking construction work as defined by the HMRC can get their CIS registration.
Why CIS contractors should hire online accountants for contractors and freelancers?
CIS contractors have a ton of compliances to manage. Many might find it tough to keep a full-fledged team of accounting professionals on-site, given the burgeoning costs. They can rely on online accountants centering their work on helping contractors and freelance professionals. Such virtual service providers represent the futuristic operational approach and prove innately economical.
Experienced online accountants are versed in dealing with HMRC and have the modernised techie tools to effectivise your operations. Reputed accounting professionals stick to the highest standards of work ethics and can act as great growth agents.
Gatwick Accountant can be an iconic choice as your CIS accountant!
Our organisation comprises experts who have an incredible background in taxation, corporate finance, and accounting. They help in maintaining your financial standing in the pink of health. Team Gatwick caters to an all-around service methodology and enables you to manage registrations, tax filings, bookkeeping, and allied compliances seamlessly.
Our main motto is to permit you to accumulate the time and resources to emphasise your core competencies while we deal with your finances in the backend. Partner with us to get the power of our techno-driven skilled accounting mavens now!
FAQ
Most frequent questions and answers
When should you register as a CIS contractor?
Any business that attracts the conditions of a contractor that the HMRC has stated under CIS has to obtain registration. Consult our team to know more!
What are the applicable CIS tax rates?
There are three distinct variants of tax brackets applicable to CIS contractors depending upon their case. The applicable tax rate can be 0 percent, 20 percent or 30 percent at the time of writing this answer sourced from official UK gov page.
Can we claim CIS tax refund?
One can get refund of the excess amount paid as CIS tax than that required to cover their actual tax liability and national insurance.
Who are contractors and subcontractors?
Contractors represent business entities that engage in construction work and hire subcontractors to do part of their contract work. Both contractors and subcontractors have to register with the HMRC respectively. .
What is CIS gross payment status?
It refers to a special status where contractors do not have to make CIS deductions. Subcontractors can apply for a gross payment status if they apply for the same with HMRC and meet the required conditions.