If your business is within the Construction Industry, you must follow the rules of the Construction Industry Scheme (CIS) in relation to payments to Sub-Contractors for construction work.
Bookkeeping Solutions will:
- Register you with HMRC as a Contractor or Sub-Contractor under the Scheme
- Verify any new Sub Contractors that you engage with HMRC
- Calculate the net amount payable to Sub-Contractors
- Produce Sub-Contractor payment certificates
- Ensure all payments to Sub-Contractors are included in the monthly return filed on-line to HMRC in accordance with the set deadlines
Advise you of the amount of monthly deductions that need to be paid to HMRC in accordance with set deadlines
Keep a record of any monthly deduction offsets, which could be applicable if you are both a contractor and sub-contractor under the scheme
Include any offsets in your employers annual return to HMRC if applicable