new business services

New Business Services

Wilson Devenish can provide a comprehensive range of services aimed especially at new businesses that will take the confusion out of administering your company’s financial affairs.

CIS (Construction Industry Scheme)

The Construction Industry Scheme (CIS) sets out the rules for how payments to subcontractors for construction work must be handled by contractors in the construction industry.

The scheme applies mainly to contractors and subcontractors in mainstream construction work, however businesses or organisations whose core activity isn’t construction but have a high annual spend on construction may also count as contractors and fall under the scheme

As a contractor you have certain obligations under the scheme, including registering with the scheme, checking whether your subcontractors are registered with HM Revenue & Customs (HMRC), paying subcontractors and submitting monthly returns

If you are a subcontractor, you need to register with HMRC - as well as your main business name you can register up to one trading name. You must also keep HMRC informed of any changes to your business (including changes to the structure, address, business name, partners etc).

Even if construction isn’t your main activity, you’ll need to register with HMRC as a CIS contractor if you spend more than a certain amount each year on ‘construction operations’ covered by the scheme.

We can carry out the registration process on your behalf and also offer CIS services on an ongoing basis to ensure you comply with all legal and HMRC requirements

Contact us for a free no obligation review of your requirements.