CIS Limited Company

If you are a contractor working under the Construction Industry Scheme (CIS), our specialist accountancy services are designed to help you operate efficiently, whilst reducing your administration.

The main benefits of operating a CIS registered limited company:

• Monthly deduction of only 20% as opposed to 30% if you are not CIS registered
• The chance to apply for gross payment status and once you are on gross payment status you can enjoy the additional payment benefits of a limited company
• The option to pay yourself a dividend as the shareholder of your own limited company
• Making expense claims such as tools and equipment for your construction work
• Tax relief on pension contributions
• Additional tax savings and flexibility and control over your finances

You can find more information about the benefits of running your own CIS registered limited company by visiting our limited company page.

As with any method of working in the construction industry comes with some disadvantages, and the one disadvantage of a registered CIS limited company is the accounting and administration that comes with it.

There will be times when you need to complete paperwork, issue invoices and ensure your bookkeeping is up to date. This can be a burden of having a limited company, but you can easily reduce this by appointing a contractor accountant to help you.

Experts in CIS accounting can give you peace of mind and confidence.

To arrange a conversation with a Churchill Knight expert, please schedule a callback or give us a call on 01707 871610.

By using an accountant for your CIS accounting, you will be able to take your mind off the paperwork and focus on your job and finding your next role.

Our limited company accounting service helps you run your contractor business with ease. We assist with:

• Your CIS registration forms
• Company Incorporation
• Corporation Tax and PAYE Registration
• VAT Registration (where applicable)
• FRS Registration (where applicable and appropriate)
• Your administration (monthly returns)

Other ways that our service helps simplify this process for you is by giving you access to our Client Web Portal, a secure and easy to use system for submitting expense claims, mileage and time sheets. We also provide you with unlimited free advice and support from our dedicated account teams and Personal Tax Return experts for the best tax advice for you.

Any worker who is deemed by HMRC to be working in construction is able to join the Construction Industry Scheme (CIS). The method to register as a CIS worker is easy but please be aware that the procedure can take up to 8 weeks.

HMRC has a dedicated helpline that may be useful if you would like to speak to a representative about becoming CIS registered – 0845 3667899. Alternatively, HMRC’s website is a great source of information. If you would prefer to speak to us, we would be delighted to help. You can call us on 01707 871610.

When you are successfully CIS registered, you will be assigned your own Unique Tax Reference (UTR) that we will use to ensure your payroll is carried out correctly and efficiently.