Bookkeeping for Sub-Contractors | TruVision

SUB CONTRACTOR

Overview

Sub-contractors have to register as self-employed with HMRC and also with the Construction Industry Scheme (CIS). 

When a contractor (a contractor is a person, business, or corporation that provides goods or services under a written contract or a verbal agreement) pays you under CIS, they’ll normally make deductions at the standard rate of 20%.

You are responsible for paying the correct tax and National Insurance for your business, even if deductions have been made by contractors throughout the year.

Contractors will give you a monthly statement of what they’ve paid you and deductions they’ve made to help with your accounting. 

You must fill in a self-assessment tax return every year detailing your income and expenses for the accounting period of April to March by January 31st, less any CIS deductions that have been made.

Our Services

HMRC & CIS Set Up

We will help you set up as self employed with HMRC and register with the Construction Industry Scheme (CIS) to avoid penalties.

Bookkeeping

Tru-Vision can make sure your business transactions are recorded correctly to ensure you claim the correct expenses

Submit Returns

You must submit your return every year to inform HMRC of your profits for the year. 

Tru-Vision can do this for you.

You are in safe hands.

Institute of Certified Bookkeepers Accredited

Self Assessment Tax Accredited

Payroll Management Accredited

Money Laundering Certified

Get in touch, I'll get back to you soon.
Let's focus on your business.
TruVision
Enable registration in settings - general