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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

Our bookkeeping services are designed to manage the CIS process from beginning to end and provide monthly reconciliations. From tracking subcontractor payments to ensuring accurate CIS tax deductions, we keep your books tidy and provide insightful reports.
We can help you incorporate and register your construction business with HMRC. As a contractor, this allows you to set up a process to deduct money from payments made to subcontractors. As a subcontractor, it means you’re registered correctly to receive payments under CIS.

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!

There are unique requirements of operating CIS payroll, including record-keeping, employment status and tax deductions. We can manage it all, ensuring compliance and accuracy in every payroll cycle, whether you’re a contractor or subcontractor. Get advice on your payment obligations.
Preparing statutory accounts for construction businesses under CIS requires expert knowledge. We ensure your accounts comply with CIS and statutory requirements, clearly showing your financial position. In addition, we can deal with any issues related to CIS claims on your behalf.

Tax Services

Minimise your tax liability
with Lyel Accountants

CGT is levied on the disposal of chargeable assets by any UK-resident individual – the laws around it, however, can be pretty complex. Get expert advice to ensure transactions made on selling an asset, shares or property are structured as tax-efficiently as possible.

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.

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!

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.

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Do your business comfortably with the help of our CIS accountants. Minimise your hassle!

REASON TO HIRE US

Why work with our
CIS accountant

Peace of mind, for one. We’re highly experienced in all areas of construction industry accounting and can manage the intricacies of the unique CIS tax return rules well!

You’ll have a dedicated client manager who offers continuous, friendly, and professional assistance.

Stay fully compliant with HMRC regulations about CIS deductions from day one with our help.
We work with many sub-contractors to ensure they benefit from their CIS status.

FREQUENTLY ASKED QUESTIONS

Got a question about our CIS accountants?

We list the common queries we get asked from time to time.

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

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.

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