CIS Accounting for Seamless Success
- Low cost, fixed fee packages
- Minimise your tax bill
- CIS compliance & CIS registration
What's CIS?
If you’re a company, partnership or a self-employed individual working in the building or construction industry, you may have to pay tax under the Construction Industry Scheme (CIS). This tax deduction scheme refers to payments made from contractors to subcontractors.
Do I Need to Register for CIS?
You must register with HMRC as a contractor if you pay subcontractors for construction work. If your business doesn’t do construction work but you spend over £1 million a year on construction over a 3-year period, you also need to register.
If you work for a contractor, you have to register as a subcontractor. In order to receive gross income from a contractor, a subcontractor must pass three tests:
How Taxago can help
As a contractor in the construction industry, you have certain regulatory obligations to meet – but you’re also busy growing your business, so why not let us focus on all the admin?
- Register you with HMRC
- Help you avoid penalties due to late returns
- Keep your accounts and records in order
- Ensure payments are done correctly within the scheme
- Ensure you’re up to date with any changes to CIS
- Supply deduction statements to your subcontractors
Our fixed-fee accounting packages
We understand running a small business comes with enough challenges without having to worry about complicated and costly accounting services. That’s why we offer simple and transparent accounting packages:
Micro Business
£199
/ per year
For non-VAT registered companies with turnover under £20k
Lite Business
£249
/ per year
For non-VAT registered companies with turnover between £20k – £85k
Small Business
£349
/ per year
For VAT registered companies or turnover between £85k – £200k
Optional Extras
- Monthly Payroll
- VAT returns
- Company Formation
- Self Assessments
- Confirmation Statements
- Dormant Accounts
Turnover above £200,000/year?
For businesses with a turnover exceeding £200,000 per annum, our tailored monthly packages provide ongoing support and financial oversight to meet your growing needs. Starting from just £29 per month, you can get an immediate quote using our instant calculator below.
What's included?
All our packages give your business:
- Year-end accounts prepared and submitted to Companies House
- Corporate tax return (CT600) prepared and submitted to HMRC
- Professional help to claim eligible expenses and tax reliefs
- Full calculation of your tax bill for you to review and approve
- Unlimited expert advice during the whole year
- Timely replies to queries
- Deadline reminders
- No surprise fees
- Payroll, VAT Returns & Self Assessments optional (additional charge applicable)
Why choose Taxago?
We challenge the way accountancy services are offered by being online based and handing those savings to you in vastly reduced fees.
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Personal touch
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Unlimited expert advice
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No hidden costs
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Regular deadline reminders
accredited xero & freeagent accountants
"Although our services are budget-friendly, we are far from being 'cheap' accountants. We provide a gold standard of professionalism and expertise, offering top-quality service at a fraction of the cost compared to our competitors."
Senior Accountant, Taxago
Frequently Asked Questions
The Construction Industry Scheme (CIS) is a UK government initiative that outlines specific rules for contractors and subcontractors in the construction industry. Under CIS, contractors deduct money from a subcontractor’s payments and pass it to HMRC. These deductions count as advance payments toward the subcontractor’s tax and National Insurance contributions.
If you are a contractor who pays subcontractors or a subcontractor who works for contractors in the construction industry, you must register for CIS. Contractors are responsible for making the necessary deductions from subcontractors' payments. However, subcontractors also need to register to ensure they benefit from lower deduction rates.
If you don’t register for CIS as a subcontractor, you will be subject to a higher tax deduction of 30%, rather than the standard 20%. Failing to comply with CIS as a contractor can lead to penalties and interest charges for incorrect deductions or missed payments.
At Taxago, we take the hassle out of managing CIS compliance for contractors and subcontractors. Our experts ensure that you’re correctly registered, handle all necessary filings with HMRC, and keep you updated with changing regulations. We’ll also assist you in calculating and reporting CIS deductions to minimize errors and avoid penalties.
As a contractor, you can claim a variety of expenses related to your work, including tools, equipment, protective clothing, travel costs, and administrative costs. Our team will ensure that all allowable expenses are claimed to reduce your tax liability while keeping you fully compliant with CIS rules.
Yes, subcontractors can reclaim overpaid tax if their total CIS deductions exceed their tax liabilities at the end of the year. We will help you claim any refunds you're entitled to and ensure your tax return is filed correctly.
If you’re a contractor, you must file a monthly CIS return to HMRC detailing any payments made to subcontractors and deductions taken. At Taxago, we take care of filing your CIS returns, ensuring accuracy and compliance with HMRC deadlines.
We offer competitive and transparent pricing tailored to the needs of contractors and subcontractors. Our packages include everything from CIS registration and tax filing to ongoing support and financial advice. Contact us for a personalized quote based on your specific needs.
In addition to CIS accounting, we offer a full range of accounting services for contractors, including bookkeeping, tax planning, VAT returns, payroll, and financial reporting. Our goal is to provide you with comprehensive financial management, so you can focus on growing your contracting business.
Effective and simplified accounting
- Fixed-fee packages
- Instant online quote
- Unlimited help and advice