Need a helping hand in preparing CIS returns?
Filing CIS returns with the HMRC month after month is a tedious and time consuming task. You will have to face serious consequences, if deadlines are missed. It remains as this 'nagging worry' at the back of your head especially towards the end of the tax month.
Tally can free you from this chore so that you can devote more time to running and growing your business. We at Tally, Accountants can provide you with trouble-free filing of CIS returns. We can also offer advice on other tax affairs, if necessary.
If you are a contractor, who is looking for 'stress-free' filing of CIS returns call us at 020 7993 8112
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Need help meeting your CIS returns deadlines?
A contractor under the Construction Industry Scheme is required to file CIS returns with the HMRC every month. He has to keep a record of all payments to subcontractors for a long period so that HMRC can check it whenever they need to. But this is rather a tedious task and it also requires the contractor to be equipped with the necessary paperwork – or software, as the case may be – and file them on time with the HMRC.
There is a list of tested software programs on HMRC website. But if a contractor does not understand it and is not equipped enough to handle paperwork etc, the CIS returns would become a hassle. Also, late payment fetches a huge penalty such as £100 if it is one day late, £200 pounds if 2 months late (plus the 1 day late penalty), £300 to £3000 pounds if over 12 months late in some cases plus the penalties for the previously stated scenarios. It's definitely a nightmare.
Even contractors who are knowledgeable about software and the procedures often fail to meet deadlines because of the pressures of their jobs. There is simply not enough time. One could always use an extra hour or an extra hand.
Whatever the case may be – lack of knowledge about this or lack of resources – it is better to approach professional accountants. Tally Accountants can help contractors under the CIS scheme file their returns every month on time without hassles. Local accountants who do not cost a fortune to hire are the need of the hour! So our London accountants are right away if you need a hand with CIS returns!