Limited companies and self-employed individuals operating in the construction sector under the CIS (Construction Industry Scheme)who act as official contractors are legally required to record payments made to subcontractors and submit monthly reports to the tax office.
There’s no way around it delays or failure to submit these reports can lead to serious legal consequences.
Accountants at MB TAX ADVICE have both formal and practical expertise in preparing monthly summaries in accordance with UK tax law. All your subcontractors must hold self-employed status and be registered under the CIS (Construction Industry Scheme). The monthly report must be submitted no later than two weeks after the end of the tax month** for which the report is being filed.
Keep in mind that not everyone you find under the search term “accountant in London” offers such advanced services. The accountants at MB TAX ADVICE, who handle contractors both Limited companies and self-employed individuals are fully aware of these and other formal requirements. If you have any questions, don’t hesitate to call or message us!
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