Construction Industry Scheme

From April 2007 CIS administration has changed. As a contractor you must comply with the new rules or you could lose your gross payment certificate and suffer financial penalties every month.
As a contractor, you will be responsible for the following: -

Making a monthly return to HMRC detailing every subcontractor used or make a nil return if you haven’t used any. If you don’t you will get a fine!
Informing HMRC of how much they have earned and how much tax you have stopped
Verifying each new subcontractor with HMRC to ascertain whether you should pay them gross or net and how much tax you should deduct from their payment
Giving every subcontractor a monthly payment and deduction statement.
Making a declaration to HMRC every month confirming your subcontractors are genuinely self-employed. Get it wrong and risk a £3000 fine each time

There will be no more pre-printed vouchers, so you will have to do it all yourself.

Are you fed up with the pressure? Do you need help?

In addition to providing payroll services we have been supporting our clients in the Construction Industry over a number of years.

The cost of you getting it wrong can and will be substantial, as well as endangering your Contractor status with HMRC.

If you have concerns about the CIS scheme please contact either Sue Espiner on 01757 703731.

To find out more about how we can help you, please contact JWPCreers LLP in Selby and York.