Our
CIS
Solution.
Why not outsource your CIS to us so you can free up more of your time to grow your business?
1. Verify
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.
2. Return
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.
3. Statements
Subcontractors must be provided with details of payments and deductions no later than 14 days after the month end.
4. Recover
Where a limited company suffers CIS deductions, a recovery employer payment submission must be filed to notify HM Revenue & Customs.
5. Tax
Any tax deducted from subcontractors must be paid over to HMRC no later than 22nd of each month, after considering any CIS suffered.
Our CIS Fees.
| 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.
