Companies are included as building firms, government departments, and local authorities. Any business spending more than £1milliion a year on construction is classed as a contractor for CIS, whilst Subcontractors are those individuals or businesses that carry out work for contractors. Some of the businesses act as both contractors and Subcontractors.

The construction industry Scheme sets out special rules for Tax and National Insurance for those working in the Construction industry. All contractors in the construction industry who are self-employed, the owner of a limited company, and partners (In partnership) are required to register for Construction Industry Scheme (CIS) and file a CIS return annually.

UnderCIS, a contractor must deduct 20% from your payments and pass it to HM Revenue and Customs (HMRC). These deductions count as advance payments towards your tax and National Insurance bill. If you don’t register for the scheme, contractors deduct 30% from your payments instead.

Groopacc Taxation can help you registering and filing CIS returns. We can get you a refund if you have paid more than your liability.

Groopacc Taxation guides our clients that best suits their needs. We file your monthly return to HM Revenue and Customs. We help you get a verification code from HM Revenue and Customs. CIS expert and partner at Groopacc Taxation is a specialized consultant in CIS, we educate our clients on self-employed or employment status in order to protect them from the imposed penalty of £3,000 from HM Revenue and Customs, we make our clients understand the difference between the two, so whether to consider the employment or self-employment status of the employee or which one is in the best interest of our clients to recruit. Our expert advises them on considering the factors such as Control, Integration, different income sources, economic reality, risk, and right under employment legislation.