CIS Accounts

Construction Industry Scheme Accounts, or CIS Accounts, are accounts created especially for companies that work in the construction sector. They are used to monitor and track payments made to subcontractors as well as to guarantee compliance to the tax laws established by the government under CIS. To assist firms in navigating the financial challenges of the construction sector, Zero Tax Accountants provides a wide variety of CIS account services.

The CIS Accounts services offered by Zero Tax Accountants may include:

  1. Registration for the Construction Industry Scheme (CIS) and compliance with all applicable laws are services we can provide.
  2. CIS submissions and returns: We can prepare and file your CIS returns on schedule, lowering your risk of fines and penalties.
  3. CIS deductions and payments: We can assist you in managing your CIS deductions and payments to make sure you are paying HMRC the appropriate amount.
  4. Refunds from the CIS: We can help you apply for refunds from the CIS, making sure you get the right amount.
  5. CIS record keeping: In accordance with legal obligations, we can assist you in keeping accurate and current records of CIS transactions.
  6. CIS Advice and Support: Our experts can offer advice and assistance on all CIS-related topics, addressing any queries you may have and assisting you in meeting your duties.
  7. Subcontractor’s verification: We can help in confirming and documenting the subcontractor’s information and ensuring compliance with CIS standards.
  8. Reconciling your CIS data at year’s end and filing your end-of-year taxes 

This tax deduction scheme refers to payments made from contractors to subcontractors (not employees, as these are covered by PAYE). Contractors deduct money from a subcontractor’s payments and pass it on to HMRC.

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