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CIS Accountants

Best CIS Accountants London will assist you with CIS Accountancy and Tax Returns.

As per the Construction Industry Scheme (CIS), money is deducted by the contractors from a subcontractors payments, which is then submitted to HM Revenue and Customs (HMRC). The deductions will be taken as advance payments towards the National Insurance and subcontractors’ tax.

Is CIS applicable to you?

  • Registration of the scheme must be done by the contractors.
  • Subcontractors don’t need to register, but deductions are obtained from their payments at a higher rate if they are not registered.
  • Subcontractors or those using subcontractors’ services for construction works are accountable for tax assessment under the Construction Industry Scheme (CIS). The principal contractor verifies the one to be a subcontractor.
  • It is applicable to you as well even if your prime activities are not construction, but you spend enough on construction annually. For example, Non-construction companies are also applicable for CIS such as housing associations, local authorities etc. which spends more than £ 1 million a year on construction activities.
  • This scheme is also applicable on property developers, labour agencies and gang leaders.

CIS Taxation Rates, why you require the help of our CIS

There are essentially the three rates for the subcontractors that usually fall in the range of 0%-30% subject to the category to which the subcontractor belongs. While CIS focusses on reducing the tax evasion in the construction industry the objective of the tax payer will always be the minimization of tax amounts as much as allowed legally. Tax calculation and especially CIS tax assessment is a tedious process and needs an expert handling, in order to ensure of not getting burdened with unexpectedly heavy taxation.

What can our CIS Accountants do for you?

  • We at Nexa Accountants offer various taxation related services out of which, CIS taxation consists to be one of the very important ingredient. Our highly experienced taxation team of experts will diligently manage all the cases with convenience and ease.
  • We will maintain your books and records updated as per the latest regulations for your sector and amendments for your interest and will establish a tax plan especially meant for you, which will enable you to save money by reducing your tax liabilities.
  • Through our tax planning meant for each business we guide our clients’ consequential wise in obtaining the highest possible taxation discounts, simplifying the financial burden of their business.
  • Suppose a subcontractor that has not been verified and is not registered for VAT may have to pay as much as 30% of their payables through CIS taxes. Verification and VAT registration can minimize this to 0% on CIS.
  • Moreover, since taxation is closely dependent on getting rebates, our tax practitioner will work constantly to ensure that the client obtains available rebates. For example : a client working predominately on CIS associated jobs will also have tax reduction on his or her annual tax payments.

Why you must choose our CIS Accountants Services?

  • There are various service providers in the industry which offers these services but with our distinctive way of working we stand out in the crowd.
  • With our deep anticipation skills and forward thinking approach on all CIS and other tax related matters, we can support our clients in an excellent manner providing them all the best advantages in the bargain.
  • All our actions are focused towards offering our valued clients best advantages in the most professional manner which ensures support, quality work and expert knowledge whenever you require it.
  • Therefore, we have also kept our cost structure distinctive depending on our task fulfilled. We work in releasing our clients’ tension, hence not adding to it.

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020 3004 9303