Any subcontractor appointed must be verified with HM Revenue & Customs before payment is made to ensure that the correct rate of deduction is applied. There are three possible rates of deduction: 0% (gross status), 20% (standard), or 30% (higher). Once the correct rate of deduction is determined, the subcontractor can be paid.
A monthly CIS return must be submitted with HM Revenue and Customs no later than the 19th of each month. If there were no payments to subcontractors, a nil return should be filed.
Subcontractors must be provided with details of payments and deductions no later than 14 days after the month end.
Where a limited company suffers CIS deductions, a recovery employer payment submission must be filed to notify HM Revenue & Customs.
Any tax deducted from subcontractors must be paid over to HMRC no later than 22nd of each month, after considering any CIS suffered.
Subcontractors | Monthly Fee |
---|---|
0 (Nil Return) | £7.50 |
1 | £25.00 |
2 | £28.75 |
3 | £32.50 |
4 | £36.25 |
5 | £40.00 |
6 | £43.75 |
7 | £47.50 |
8 | £51.25 |
9 | £55.00 |
10 | £58.75 |
11 | £62.50 |
12 | £66.25 |
13 | £70.00 |
14 | £73.75 |
15 | £77.50 |
16 | £81.25 |
17 | £85.00 |
18 | £88.75 |
19 | £92.50 |
20 | £96.25 |
21 | £100.00 |
22-99 | £POA |
Please note that all fees quoted above are subject to VAT.