Construction industry scheme
Reporting CIS deductions
The Construction Industry Scheme (CIS) applies to contractors, subcontractors and any business that has a high annual spend on construction.
If your company is involved in construction, you may have to register under CIS and keep records of all payments and notify HMRC of those payments in a monthly return.
Manually calculating CIS deductions for every transaction can be complicated, inefficient and time consuming. It also brings with it considerable risk of error which could lead to investigation, fines or prosecution.
Horsfield & Smith can handle management of the CIS on your behalf as part of its outsourced payroll function, taking a considerable weight off your shoulders.
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If you need a specific advisory service, or want to know more about how we deliver, we recommend talking to one of our team about your circumstances and business needs.