Make sure you don’t lose CIS Gross Status

 

Should you continue making money from construction, or become a tax expert?

If your business has CIS Gross Status, always remember that you must adhere to strict HMRC rules and deadlines, or that privilege could be removed.

It will hurt your cash-flow if you lose CIS Gross Status because it will cause an immediate drop in income received by your business.

Unfortunately, it is easy to make mistakes in tax returns – it’s so complex!

Overworked small business owners sometimes miss HMRC deadlines.

Contractors operating CIS must also ensure all other tax returns and liabilities are up-to-date.

CIS Gross Status is considered to be a privilege. It requires timely record keeping and great care to ensure it is not lost.

Outsource all that hassle to ad+ Chartered Accountants, and then you can concentrate on making money in construction.

Our tax and payroll team have extensive experience of processing all matters relating to business and director taxation. In addition, we regularly negotiate with HMRC on behalf of our clients, thereby helping them to avoid a stressful process whilst concentrating on making money in the business.

Although ad+ Chartered Accountants is based in Glasgow, we help clients located throughout the UK. Our investment in cloud-based software and video meetings has proved to be invaluable during the lockdown.

Get in touch if you would like to have a chat.

There’s no cost and no obligation.

 

PS:  If you really want to become a CIS tax expert, you will find the following HMRC guide useful.

BUT . . . . if you would rather make money – stick to construction and let ad+ take care of all your tax hassles.