CIS Tax Returns Accountants
Working through the Construction Industry Scheme? We’ll take care of your Self Assessment tax returns.
What Is A CIS Tax Return?
If you’re working via the Construction Industry Scheme, you will need to submit a tax return to disclose your earnings for the financial year.
The deadlines for CIS tax returns is the same for all other tax returns – 31st January.
If you’re a contractor who pays subcontractors, you’ll need to file your returns to HMRC by the 19th of every month following the last tax month.
How We Can Help With Your CIS Tax Return?
CloudAccountant’s CIS Tax Return service is custom-built to take the stress, complexity, and guesswork out of preparing and filing your tax returns.
For a single fixed fee, we can handle every stage of the process, from getting you registered for the system to submitting your returns online. Because we can become your “official agent” with HMRC, you’ll never have to deal with the taxman yourself. With CloudAccountant, you’ll never miss a deadline or any tax relief you’re entitled to.
How Does The CloudAccountant Tax Return Service Work?
As construction industry tax experts with 15 years of experience, Cloud’s specialist teams are the best in the business. Our service includes:
Help switching from your previous accountant
Avoiding penalties due to late returns
On hand year-long aftercare & advice
Claiming any tax refunds you’re due
What Expenses Can I Claim For?
A key part of working with the Self Assessment system is understanding what expenses you can claim for. This is an area where a lot of people on Self Assessment miss out, and end up paying too much tax. Examples of allowable expenses in construction include:
These are the essential costs of doing business, and they count against the income you’re being taxed on.
CIS Tax Returns
For people in the building trade, CIS tax returns are a fact of life. Making a mistake when filing your CIS tax return online could lead to you paying way too much tax on your pay. Here at CloudAccountant, our experts are on hand to manage your CIS tax returns hassle-free.
Getting paid through the Construction Industry Scheme (CIS) means that your contractor has to take out a substantial amount of your pay before you get it. This money then goes straight to the HMRC, and is supposed to act as “advance payment” toward the tax and National Insurance you’ll owe. This is the law, and your contractor doesn’t have any choice about it.
For the subcontractor, this can be pretty painful. Effectively, you’re being taxed right from the first penny you earn, without getting your tax-free Personal Allowance. This is supposed to help crack down on tax evasion in the construction industry, but it means that honest subcontractors end up carrying the load.
The good news is that you can claim back the extra tax you’ve paid in your Self Assessment tax return. Despite having 20% of your money taken by HMRC, you still have to file a return. If you’ve paid too much tax, you’ll get this back as a tax refund.
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Frequently Asked Questions
What’s involved in the onboarding process?
An initial consultation will tailor a bespoke quote toward the core services you need. It’s a good opportunity to explore the best fit and deep dive into how we can best support your objectives.
Once an agreement is reached, we’ll need your passport ID and proof of address to verify. All verification can be done electronically through e-signing.
Our onboarding team will pick the baton up and schedule a call to welcome you to CloudAccountant.co.uk. We need you to notify your current accountant that you’re moving and then we’ll do the rest with a professional clearance and transition to make the move seamless.
What accountancy software do you use?
CloudAccountant.co.uk are platinum partners with the award-winning accounting software Xero and FreeAgent.
We also work closely with transactional software systems such as LinkMyBooks, A2X and Dext to support multiple aspects of your business.
Whether you are selling online or managing your expenses, we have software integrations that can help record information quickly and efficiently.
Is there a setup fee or additional cost involved?
There are no setup fees.
We charge a flat monthly fee that contributes to all submissions, software, and support with no hidden costs for advice.
If you onboard with us mid-way through your accounting or tax year we will need to align the costs of our services to the beginning of the contract.
Can I speak to an accountant?
Our dedicated and friendly accountants are always available to provide unlimited advice and support during office hours.
Whether you need support with your accountancy software, advice about a transaction or just looking for knowledge on best practices and efficiency, our team will be available by phone, email, video chat or face-to-face at our Wilmslow head office.
Phone: 0808 281 0303
Can I switch accountants?
Switching accountants can feel like a daunting task from the outset but CloudAccountant.co.uk makes onboarding quick, simple and hassle-free.
We provide a no-fee bespoke quote for our services and all we need from you is your ID and proof of address for verification.
The contacts are sent electronically to review and sign then our dedicated onboarding team will start the process to get you set up.
Please note that you will have to contact your current accountant to determine your active contract end date. We will look after the rest and contact them for professional clearance to transfer all the important details.
Can I amend my package?
Yes, absolutely. You can upgrade or downgrade services at any time and these will reflect on your next billing cycle.
Our team will review your package on a regular basis to make sure you are on the most effective package for your business. We are always available to discuss options for the services available.