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CIS Accounting

Why Do You Need a Specialist CIS Accountant?

The Construction Industry Scheme (CIS) is the Government tax scheme that creates specific tax rules that apply to subcontractors working in the construction industry and how payments to them must be handled by contractors.

This is an area our team of specialist CIS accountants is very familiar with and we have worked in the the sector for the last decade. We help dozens of subcontractors with their tax matters and would be happy to talk you through what is required.

What Does a CIS Accountant Do?

Under the Construction Industry Scheme ( CIS ), contractors deduct money from a subcontractor’s payments and pass it to HM Revenue and Customs ( HMRC ). The deductions count as advance payments towards the subcontractor’s tax and National Insurance. Contractors must register for the scheme. Our team will provide practical advice and solutions to a range of accounting and business activities you will need to undertake either as a Contractor or Sub-Contractor under the CIS scheme. It can be a complicated piece of legislation to understand, particularly if you are just joining it, so it is important to know the right steps to take.

Our areas of expertise include:

Accounting Services for Contractors

Contractors have an entirely different set of financial planning and accounting needs compared to other businesses. This is because contractors are subject to a wide range of complicated rules and legislation, both local and national. Failing to follow these rules can lead to fines and other financial penalties but following them correctly can lead to a boost in finances.
Services we can provide include:

  • Registering your business as a Contractor with HMRC
  • Verifying your subcontractors with HMRC
  • Making sure your payments to subcontractors are correct and follow the CIS rules
  • Send subcontractors their deduction statements
  • Ensure all of your monthly records are up to date with HMRC

Accounting Services for Subcontractors

As a sub-contractor, you are required to register with HMRC as one. You must also keep HMRC informed of any changes to your business including things like changes to your business address, your business name, who your business partners are and any other relevant information.

We can help you with the following services specifically for subcontractors:

  • Confirm your status to HMRC either as a subcontractor or as an employee. *
    • *It is possible to be both in certain circumstances.
  • Work with your contractor to ensure you are verified as such for them.
  • Keep all of your accounting and business records up to date.
  • Complete and submit your self assessment tax returns each year and deal with any liabilities and refunds due.

Tax Returns and Monthly Accounting

Failing to submit your tax returns and monthly figures to HMRC is likely to lead to financial penalties. To avoid this our team will ensure all of your returns are correct and submitted on time. We will work with you to ensure any queries from HMRC are dealt with promptly and efficiently.

If there any changes to the CIS legislation we will implement these for you to make sure your accounting system is compliant.

Your Accounts are Always Up to Date

Accurate accounting records are of course essential to all types of business but for the CIS scheme members, tracking the the details can be time consuming and confusing. As CIS accounting professionals, we already deal with dozens of contractors and subcontractors and have the systems in place to ensure your accounting is both accurate and up to date.

CIS Accountants Reduce Your Workload

Accounting involves a lot of different tasks, which are often repetitive and time-consuming. Thankfully, we are well-versed in all of these and can handle your accounting and day to day management. This reduces a lot of the accounting workload which you as a contractor or sub-contractor must produce.

We are familiar with a range of accounting software including Sage, Xero and QuickBooks.

Our Construction Industry Specialists Can Help You with Changing Legislation

With new regulations seemingly being introduced every month, a specialist construction industry accountant will be able to keep you up-to-date with the latest legislation.

Our team of accountants will always be in a position to inform you about any updates that you the contractor or subcontractor must know about and how they are likely to impact your business. By keeping abreast of future changes to legislation we can advise you well in advance of their introduction how best to change your business to maximise any benefits they may have and minimise any negative areas.

Get in touch with a trusted and professional CIS accountant today!

Book Your Free Consultation

Looking After Your Tax Deductions

We work with subcontractors to determine if they are an employee and covered by the PAYE scheme under their contract or if they are a subcontractor and covered by the CIS scheme. In this case you will receive payment Under Deduction from your contractor.

Construction Accountants Help Subcontractors Save on Taxes

Many subcontractors are unfamiliar with the tax rules that apply to them. It is a complex and ever changing set of rules and regulations and one that we spend a great deal of time understanding and advising on.

We can carry out a tax audit on your existing arrangements to ensure you are structured correctly and taking on the benefits of current UK tax legislation.

MCC Accounts – Expert CIS Accountants in Manchester and the North West

Our tailored construction accounting services for sub-contractors and construction related companies across Manchester, Salford and the North West are fuelled by our expert knowledge and years of experience. We help simplify the complicated and ever-changing dynamics of the sector, including tax and legislation as well as your day-to-day accounting needs.

Whether you are an established business or someone who is planning to become a subcontractor, you are well advised to hire a professional construction industry accountant so you can make the smart choices for your future.

MCC Accountants are just a call away.

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EXCELLENT rating
Based on 43 reviews
Really great service from Syed at MCC. He is super helpful and happy to explain things so that I fully understand everything... He makes the process really simple and fuss free.
Laura Ackers
Laura Ackers
09/11/2022
Professional and trustworthy - I'd definitely recommend!
Emma Fletcher
Emma Fletcher
01/11/2022
Thanks to MCC Accountants for helping me with my administrative procedures and in particular Luis Machado, whom I highly recommend for his patience, efficiency and professionalism. Cordially.
Feliciana Norton
Feliciana Norton
26/09/2022
Luis one the best professionals in the area who I've ever met! Focused, patient, knowledgeable, and extremely competent! I'd recommend the service to anyone, he is an specialist in the area, solved most part of my problems, very efficient, which brings the best for his company MCC! Thanks a lot for take care of my accountings!
JAMES EROUS SPAGNUOLO
JAMES EROUS SPAGNUOLO
09/09/2022
Awesome company, I have been very well served by Luis who helped me with some particular difficulties and he has done it perfectly with no delay and no problems at all. I do recommend this company and Luis to anyone I know specially a self employed like me who was struggling with self assessment. Thrust blindfolded
Cayo Lucchesi
Cayo Lucchesi
08/09/2022
I recommend MCC in particular Luis Machado who profied himself from the first moment to help me with my vat return 5☆
carlos Flor
carlos Flor
08/09/2022
Excellent Service !!! Totally recommend MCC services. They are helping with my new limited company , taking all the load from me and at same time educating in the correct actions I have to take with the company. Great communication at all the times. Big Thank you to Luis who is always offering support and clarifying all my doubts.
Glam N Glitz
Glam N Glitz
11/07/2022
Amazing worker’s, really fast response, always ready to help, sorting your problems and questions you might have! I really advice using MCC
José Marinho
José Marinho
30/06/2022
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MCC Accountants
MCC Accountants
4.8
Based on 43 reviews
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Laura AckersLaura Ackers
15:54 09 Nov 22
Really great service from Syed at MCC. He is super helpful and happy to explain things so that I fully understand everything... He makes the process really simple and fuss free.
JAMES EROUS SPAGNUOLOJAMES EROUS SPAGNUOLO
10:38 09 Sep 22
Luis one the best professionals in the area who I've ever met! Focused, patient, knowledgeable, and extremely competent! I'd recommend the service to anyone, he is an specialist in the area, solved most part of my problems, very efficient, which brings the best for his company MCC! Thanks a lot for take care of my accountings!
Cayo LucchesiCayo Lucchesi
18:33 08 Sep 22
Awesome company, I have been very well served by Luis who helped me with some particular difficulties and he has done it perfectly with no delay and no problems at all. I do recommend this company and Luis to anyone I know specially a self employed like me who was struggling with self assessment. Thrust blindfolded
Glam N GlitzGlam N Glitz
13:22 11 Jul 22
Excellent Service !!! Totally recommend MCC services. They are helping with my new limited company , taking all the load from me and at same time educating in the correct actions I have to take with the company.Great communication at all the times.Big Thank you to Luis who is always offering support and clarifying all my doubts.
Spiral CraftSpiral Craft
07:26 15 Jun 22
Thanks to MCC accountants for taking care of our limited company accounts. They understand our business and always provide well thought-out advice. They provide clear reliable service which I have been able to trust and depend on. Our own accountant, Luis, has been exceptional. He is patient in answering questions and helping with company queries.
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MCC Accountants - Chartered accountants Manchester

Manchester, Salford

Cheadle Hulme

  • VAT Number: GB 289906243
    Company No.: 07059338

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  • VAT Number: GB 289906243
    Company No.: 07059338

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