As a contractor, you have a legal duty to verify your subcontractors and apply the correct deduction rates—whether that is 0%, 20%, or 30%. Goddards Accountants manages this verification process on your behalf, calculating the precise amount to withhold and issuing the necessary statements to your subcontractors. We also handle the monthly CIS return submissions, ensuring you avoid the heavy penalties associated with late or inaccurate filings.
Our Service Expertise
For subcontractors, we focus on ensuring you receive the tax refunds you are often entitled to. Because CIS deductions are taken at source, many subcontractors end up overpaying tax throughout the year. Goddards Accountants meticulously reviews your earnings and expenses to prepare accurate tax returns, reclaiming any overpaid CIS deductions as quickly as possible to put money back into your business or pocket.
Compliance is only one side of the coin; we also provide strategic advice on how the CIS interacts with your VAT and Corporation Tax obligations. The introduction of the VAT Reverse Charge for construction services has added further complexity to bookkeeping in the sector. Goddards Accountants provides the clarity you need to handle these changes, ensuring your invoices and records are compliant with the latest HMRC guidance.
By partnering with Goddards Accountants, you benefit from a team that understands the “boots on the ground” reality of the UK construction industry. We take the administrative burden of CIS returns off your desk, allowing you to focus on managing your sites and completing projects. With our specialist knowledge, you can rest assured that your construction business is operating with financial integrity and maximum efficiency.