Simplify Your CIS Accounting Today!
Let us handle all your CIS accounting and reporting. With Devonshire Green, compliance is simple and secure.
Why choose Devonshire Green ?
Years of Combined Experience
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About our services
Construction Industry Scheme (CIS) Accounting Services
Our Construction Industry Scheme (CIS) compliance services ensure that contractors and subcontractors in the construction industry meet all HMRC regulations.
We handle everything from registering your business under CIS to submitting returns on time, ensuring accurate tax deductions, and managing compliance with HMRC. By partnering with us, you avoid penalties and ensure that all your CIS obligations are met efficiently, allowing you to focus on your business without the stress of regulatory hurdles.
What is the Construction Industry Scheme (CIS)?
The Construction Industry Scheme (CIS) is a system created by HMRC in which contractors in the construction industry are required to deduct money from payments made to subcontractors. These deductions are then passed on to HMRC.
The money deducted serves as an advance payment towards the subcontractor’s tax and National Insurance contributions. Both contractors and subcontractors are encouraged to register for the scheme before starting any work to ensure compliance with HMRC regulations. Registration can also affect the rate of deduction for the subcontractor, making it an important step for both parties.
What are the CIS deduction rates?
The CIS (Construction Industry Scheme) deduction rates depend on the tax status of the subcontractor and their registration with HMRC. There are three main CIS deduction rates:
- Standard Rate (20%):
This rate applies to subcontractors who are registered with HMRC for CIS. Contractors must deduct 20% from the payments they make to these registered subcontractors for labour, after excluding materials and VAT. - Higher Rate (30%):
This higher rate is for subcontractors who are not registered for CIS with HMRC. Contractors must deduct 30% from the payments for labour, again excluding materials and VAT. - Gross Payment (0%):
Subcontractors who have applied for and been granted gross payment status by HMRC can receive their payments without any deductions. In this case, the subcontractor is responsible for paying their own taxes at the end of the tax year.
These deduction rates are calculated on payments for construction work but exclude materials, equipment hire, and VAT. Contractors must pass on the deducted amounts to HMRC on behalf of the subcontractor.
Devonshire Green’s specialist CIS accounting covering everything you need to manage the complex tax requirements of the construction industry. Our dedicated team ensures your business stays on top of its financial obligations, offering:
Monthly returns to HMR
We submit your monthly reports to HMRC on time, ensuring you meet all tax requirements.
Subcontractor deductions for National Insurance and tax
We handle the correct deduction of taxes and National Insurance contributions for subcontractors, ensuring compliance with HMRC rules.
Day-to-day bookkeeping
We manage your daily financial records, keeping your accounts organised and up-to-date.
VAT returns and advice
We provide full support in completing and submitting VAT returns, along with advice to optimise your tax processes.
PAYE management for construction companies
We administer your employee payroll through the PAYE system, ensuring accurate deductions and meeting legal obligations.
HMRC contractor registration
We help you register correctly as a contractor with HMRC, avoiding complications and penalties.
Deduction statements for subcontractors
We provide your subcontractors with detailed statements of tax and contribution deductions, maintaining transparency.
Full CIS compliance and registration
We assist you in complying with all CIS regulations and correctly registering under the scheme, helping you avoid penalties.
Why work with us?
We will evaluate your business to understand and determine:
- We will ensure that your business meets all legal obligations with timely statutory filings and record maintenance
- We will free up your time to focus on business growth while we handle administrative tasks and legal compliance
- You will get expert advice on company law to avoid potential risks and ensure your business operates smoothly
- We will keep accurate minutes and resolutions from board meetings, ensuring legal compliance and organized records
- We will manage the company registration process, saving you time and ensuring all paperwork is done correctly
- Ensure your statutory books are well-maintained and compliant with all legal requirements through our services
- We handle and forward all official company mail, so you never miss important communications
- You will benefit from expert advice on corporate governance, ensuring your business operates within legal and regulatory frameworks
- We will use our office as your registered address, keeping your business looking professional and credible
90+ Years of Expertise for Tailored Financial Solutions
Benefit from decades of experience, providing you with personalised, effective financial strategies that outshine competitors.
Testimonials
Richard Wayne
Great personal service from Devonshire Green, my contact there was James Barker. He has prepared and submitted accounts for my business for the last 7 years, giving considered advice as relevant to me. He has also prepared and submitted Tax Returns to HMRC during this period. Nice people to deal with.
Natalie Langley
I would like to thank Aaron for helping us with my husbands first tax return since registering as self-employed. He was recommended to us, and he just made everything so easy. We had lots of questions and he always came back to us quickly with the answers. He explained everything to us along the way and took the stress out of filing the tax return ourselves. We will definitely be using this company again.
Alan Morfey
Great service provided by James and his team over the last 4 years! As someone that was totally new to running my own business James ensured everything was explained to me in terms I understood which gave a very personal feel aswell as the confidence I needed to deal with the day to day running of things. Much appreciated James.
Construction Industry Scheme (CIS) Accounting
Our Construction Industry Scheme (CIS) accounting ensures full compliance with HMRC regulations for contractors and subcontractors in the construction industry. The CIS requires that contractors deduct money from subcontractor payments to cover their tax contributions, and this must be reported accurately to HMRC. Our team manages every aspect of CIS, from registration to filing returns.
We handle the Construction Industry Scheme registration for contractors and subcontractors, ensuring that your business is set up correctly. Our services also include filing monthly CIS returns on time, preventing penalties from HMRC. We ensure that all deductions are made accurately, helping you avoid costly mistakes and ensuring full compliance with the Construction Industry Scheme.
With our expert knowledge of the Construction Industry Scheme accounting, we provide advice and support to ensure that you stay up to date with HMRC requirements. Whether you are a contractor or subcontractor, staying compliant with CIS can be complex, but our services take the stress out of managing it.
By outsourcing your Construction Industry Scheme accounting to us, you can focus on your core business while we handle the administrative burden. Contact us today to ensure your business stays compliant and penalty-free.