Specialist CIS accountants in New Malden, Kingston and Wimbledon
Martax Accountants is an independent firm of Chartered Certified Accountants who are specialised in providing CIS tax return services to self employed or sole traders working in Construction Industry Scheme. If you are working as a CIS self employed or sole trader, our specialist team of CIS tax return accountants can help you prepare your CIS sole trader accountants and tax returns to submit with HMRC and to ensure that you maximise your tax savings.
We are specialist CIS accountants based in New Malden severing clients in London and Surrey. We provide CIS accountancy and tax return services for a fixed fee and there are no hidden charges.
CIS Tax Return Accountants in New Malden
If you are working in construction industry as a self employed or through a limited company, you will have certain responsibilities towards HM Revenue and Customs (HMRC) and that is where Martax Accountants can help to fulfill all your obligations. We provide our CIS tax returns and accounting services in New Malden, Kingston Upon Thames, Wimbledon, Cobham, Weybridge and all the surrounding boroughs in London and Surrey.
Construction Industry Scheme (CIS) covers most construction work to a permanent or temporary building structure or civil engineering work like roads or bridges. Under CIS, contractors deduct money from a sub-contractor’s payments and pass it to HM Revenue and Customs (HMRC).
Under construction Industry Scheme, If you are a subcontractor you will need to register with HMRC as a CIS sole trader. Your CIS contractor will check your registration with HMRC and if verified will deduct 20% of tax from your invoices and will pay this to HMRC on behalf of you. If you are not a registered CIS subcontractor, your contractor will deduct 30% of your invoices.
As a CIS sole trader, you will be required to submit your annual self assessment tax return by 31 January following the end of the tax year. We are specialist CIS tax return accountants who can help you prepare and submit your CIS self assessment tax return ensuring that you claim all your legitimate expenses, and any CIS refund is directly credited into your bank account.
All the usual requirements of self-employment and self-assessment apply to CIS subcontractors.