These duties include a monthly declaration/payment to HMRC.
This can be both tiresome and difficult to understand.
This is a task that can be easily handled and fulfilled by Biz Accounting Ltd.
If you’re unsure if you’re covered by the Construction Industry Scheme, we’ll explain it here.
CIS covers all businesses relating to construction work, such as refurbishment, renovation, interior decoration, site demolition, and reconstruction.
There are two types: mainstream contractors and deemed ones.
1. Mainstream contractors include businesses which have a direct business of constructing buildings and infrastructures. Contractors who hire sub-contractors for additional services also apply as mainstream. Therefore as an example (but not limited to), if you’re a plumber, decorator, renovator, builder, or property developer - take note.
2. Deemed contractors include companies or agencies which do not work on direct buildings, but who have a generous amount of spending relating to construction. This can apply to local governments, local authorities, and housing development associations or organisations.
Filing CIS Returns doesn’t apply to companies that are charitable in nature. Excluded construction work that does not qualify also involves land surveying, carpentry, architectural works, and material deliveries. To know and understand more, you can contact us.