Devonshire green has established a reputation as a market leader in the cis sector.
Devonshire Green has established a reputation as a market leader in CIS. This has been driven by hard work and the faith our clients have put in our ability, quality of service & professionalism. We have over 15 years’ experience in becoming a market leaders who can take care of your entire CIS needs.
We have established networks with providers of Indemnity insurance, public liability and site risk assessments. We service contractors and subcontractors and are able to take care of requirements under one roof, saving you time and headache.
We have seen two recessions with the dot com bubble and credit crunch, the latter greatly impacting the CIS sector. Yet we have remained resilient, to remind our clients that they remain our greatest asset. We trust any prospective client can be reassured by our track record.
If you are working through a CIS company, the company must be registered with the Inland Revenue for CIS. If you are a Fully Administered Company (FAC), we can do this for you. A number is normally issued around 20 days after the company is incorporated. Your employer will then need to verify your company with the Inland Revenue and make appropriate deductions. The standard CIS rate is 20% which this will be deducted from your weekly wage. If your company has not been registered for CIS, the deduction will be 30%.
Each month you should receive a deduction statement from your employer. These will be made out to your company. You will need to retain these in order to claim back a refund. The deduction statement summarises your CIS deductions for the month.
As your annual deduction is usually higher than your final company taxation bill, you will be entitled to claim a repayment at the end of the tax year. This is called a CIS refund. Applying for and receiving this refund can be a drawn-out and complicated process. Unless you have first-hand knowledge of the UK taxation system, it can feel virtually impossible to obtain a refund, as a lot of construction workers have discovered to their peril.
At Devonshire Green, we pride ourselves in being the only specialised CIS accounting and taxation company in London. Before you begin contracting in the construction industry, we recommend you contact one of our fully qualified consultants to discuss the options available to you. Although it may appear complicated, working under CIS can be a simple and efficient means of managing your tax affairs whilst contracting in the UK, provided you take the right steps at the beginning.
We can provide piece of mind by taking the hard work off your hands