A construction company with a large number of subcontractors turned to PR Accounting Solutions Limited for assistance with their Construction Industry Scheme (CIS) submissions. Managing CIS compliance had become a significant burden, especially as they grew and took on more subcontractors. Errors in monthly submissions to HMRC had resulted in penalties, and the company wanted a reliable partner to take over the process.

We provided a full CIS compliance package, which included:

• Monthly CIS Returns: We handled the preparation and submission of monthly CIS returns on the company’s behalf. By ensuring that all subcontractors’ details and payment information were accurately reported to HMRC, we helped the company avoid further penalties.
• CIS Deduction Calculations: We calculated the correct CIS deductions for each subcontractor, ensuring that the right amount was deducted and paid to HMRC. This prevented underpayment or overpayment issues that could have led to costly mistakes.
• Subcontractor Verification with HMRC: We took care of the subcontractor verification process, confirming their registration with HMRC and ensuring that the correct tax rates were applied. This helped the company avoid delays in payments and ensured compliance with CIS rules.
• CIS Tax Refunds for Subcontractors: For subcontractors who had overpaid CIS deductions, we assisted in claiming tax refunds, streamlining the process and improving cash flow for the company and its subcontractors.

Our proactive management of the company’s CIS submissions resulted in smoother operations and improved compliance. The construction firm saw a significant reduction in administrative burdens and penalties, allowing them to focus on delivering their projects on time and within budget.