Contractors within the CIS industry are obligated to verify sub-contractors and deduct tax from these sub-contractors. You are also obligated to submit a return by the 19th of every month and pay across any tax deducted from these sub-contractors. Failure to do so can result in penalties\u2026.<\/p>
MNP offer a comprehensive Construction Industry Scheme service and ensure that you are fully compliant within the realms of CIS. From CIS registration, and verification of your sub-contractor\u2019s right the way through to the preparation and submission of your CIS return we have got it covered.<\/p><\/div><\/div>
Also included in the service:<\/h4>
- Notify HMRC of the tax you have suffered (Ltd companies only)<\/li>
- Advise of any applicable liabilities\/credits<\/li>
- Generate statements for your sub-contractors (with the + statements service)<\/li>
- Correspond with HMRC about your liabilities\/credits<\/li><\/ul><\/div><\/div><\/div><\/div><\/div>