Bookkeeping and CIS Returns for contractors

Anyone in the construction industry knows that it is imperative to have the right tools for the job, that’s why your bookkeeping should be no different. Pebbles Bookkeeping are specialists in providing bookkeeping services for businesses in the construction industry.

bookkeeping for construction companiesWe’ve worked with a wide range of tradesmen and contractors in Stockport and surrounding South Manchester including:

  • Builders
  • Joiners
  • Roofers
  • Plumbers
  • Electricians
  • Decorators

For those working in the construction industry, the requirements of the Construction Industry Scheme need to be complied with. At Pebbles Bookkeeping, we can assist you to comply with the various elements of the Scheme for your business in the Stockport and South Manchester area.

The Construction Industry Scheme (CIS)

The Construction Industry Scheme (CIS) sets out special rules for tax and national insurance (NI) for those working in the construction industry. Businesses in the construction industry are known as ‘contractors’ and ‘subcontractors’. They may be companies, partnerships or self employed individuals.

The CIS applies to construction work and also jobs such as alterations, repairs, decorating and demolition. We can help you work out whether your business needs to register for the scheme or not.

Monthly CIS Returns

Contractors have to make an online monthly return to HMRC:

  • confirming that the employment status of subcontractors has been considered
  • confirming that the verification process has been correctly dealt with
  • detailing payments made to all subcontractors and
  • detailing any deductions of tax made from those payments.

All contractors are obliged to file monthly even if they are entitled to pay their PAYE quarterly.

When you are busy running your business, finding the time to deal with these monthly returns as well as trying to acquire the expertise to complete them correctly can be difficult. At Pebbles Bookkeeping we take away the stress of completing these returns so that you can concentrate on the day to day running of your business.

Get in touch

Please do get in touch if you would like further information about Bookkeeping or the Construction Industry Scheme.