Professional and reliable CIS accountants ready to help
The Construction Industry Scheme (CIS) impacts multiple businesses in the UK construction sector, from contractors and sub-contractors to suppliers and those in ancillary industries.
Naturally, its nuances can be hard to understand on your own. Our CIS accounting services take care of everything for you.
BANK ON OUR SPECIALISM
CIS accounting services in Leeds and all across the UK
CIS applies to payments made for construction work. As a contractor, you must make tax deductions from your payments to your subcontractors and then pass them on to the HMRC. Subcontractors must be registered with the taxman and keep accurate records of their CIS tax returns.
CIS is indeed a big step forward in streamlining the UK economy, but its tax return filing process can be complicated and frustrating.
Our CIS accountants are proud to support businesses and workers who engage in construction operations and give them appropriate advice that’s timely and compliant.
The length and breadth of our CIS
accounting services in the UK
- Bookkeeping
- COMPANY FORMATION
- MANAGEMENT ACCOUNTS
Looking to receive real-time financial insights into your construction business? Our management accounting services include cost tracking, budgeting, and financial forecasting, enabling you to make strategic decisions in the long run. Working with us is a breeze!
- PAYROLL
- STATUTORY ACCOUNTS
Tax Services
Minimise your tax liability
with Lyel Accountants
- CAPITAL GAINS TAX [CGT]
![Capital Gains Tax [CGT]](https://lyelaccountants.co.uk/wp-content/uploads/2024/02/tax-4.jpg)
- CORPORATION TAX [CT]
![CORPORATION TAX [CT]](https://lyelaccountants.co.uk/wp-content/uploads/2024/02/tax-3.jpg)
Every limited company in the UK needs to be registered with HMRC and pay corporation tax on its profits during the financial year. We help businesses minimise corporate tax exposure and administrative burden and meet all tax requirements in a timely fashion.
- SELF ASSESSMENT
Preparing all the necessary documents for filing your Self Assessment on your own can be daunting if you aren’t used to it. Not to worry! Whether you’re a self-employed individual, a company director or a contractor under the CIS scheme, we’re happy to help!
- VAT
If you run a VAT-registered business, whether as a sole trader or a limited company, you must submit VAT returns and payments to the HMRC every three months. Uncover missed tax saving opportunities and manage the risks in your business with the help of Lyel Accountants.
CONTACT US ANYTIME
Do your business comfortably with the help of our CIS accountants. Minimise your hassle!
REASON TO HIRE US
Why work with our
CIS accountant
You’ll have a dedicated client manager who offers continuous, friendly, and professional assistance.
FREQUENTLY ASKED QUESTIONS
Got a question about our CIS accountants?
How do I know CIS applies to me?
CIS applies to you if you are:
- A contractor in the construction industry
- A subcontractor in the construction industry (i.e., you work with a contractor on a self-employed basis or as a limited company)
- Both a contractor and a subcontractor in the construction industry (which could happen if your company works for a bigger contractor and then subcontracts to others)
- A business that spends over £1 million annually on construction work
How does CIS work for me if I’m a contractor?
Here’s how CIS works for you if you are a contractor:
- First, you need to register with HMRC.
- Then, check your subcontractor’s employment status and whether they are self-employed or employed with you. In the latter case, you must pay them via PAYE like your regular employees.
- If they are self-employed, check whether they are registered with HMRC as a subcontractor. If their registration is confirmed, HMRC will tell you whether to pay them the gross amount or make a standard deduction of 20%.
- If HMRC can’t confirm their registration, you must make a 30% deduction.
If this sounds overly complicated to you, fret not. Let our CIS accountants maintain subcontractor records, verify subcontractors online with HMRC, and prepare and submit your monthly CIS returns.
TESTIMONIES OF EXCELLENCE
Appreciation our clients
have showered on us
"LYEL Accountants really helped me when other wouldn’t. Professional, efficient and cost effective."
Muhammad Abbas
Owner
"Professional, very helpful and excellent team to work with. I am very pleased with their work and highly recommend them!"
Reza Ghaffari
Owner
"LYEL Accountants really helped me when other wouldn’t. Professional, efficient and cost effective."
Muhammad Abbas
Owner
"Professional, very helpful and excellent team to work with. I am very pleased with their work and highly recommend them!"
Reza Ghaffari
Owner
