Your advice and support has been invaluable throughout this crisis period. I really appreciate it.
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You will provide us with the following once a contract has been signed or a tender agreed or a subcontractor engaged for work:
It is important to note that verification procedures must be carried out before any payment can be made to the subcontractor. We will not be responsible for delays in paying subcontractors where we have not been provided with the information in time for us to be able to carry out the verification. Subcontractors can carry out work prior to verification.
Where you have already included a subcontractor on a monthly return in the last two years separate verification will not be required. In these circumstances, you will provide us with the verification reference previously obtained, along with the deduction rate as advised by HM Revenue and Customs.
In order for us to provide you with details of the net payments and deductions amounts for each subcontractor you agree to provide us with the following by the 10th day of each month:
You will be responsible for preparing the written statements of deduction to support each payment and providing them to each of your subcontractors by the 19th of the month following payment.
If you receive a notice of change from HM Revenue and Customs with regard to a change in deduction status for one of your subcontractors you undertake to forward it to us immediately. We will not be responsible for failure to effect a change where we do not receive the notice in time.
You agree to forward to us any communications related to CIS you receive from HM Revenue and Customs in time for us to deal with them as necessary within any time limits. Although HM Revenue and Customs have the authority to deal with us directly, it is still possible for them to contact you without us being aware.
You will be responsible for confirming the self-employment status of all your subcontractors.
We will carry out verification procedures with HM Revenue and Customs for any new subcontractors you use.
We will advise you of the net payment and deduction amounts for each subcontractor based on the information given to us
On the basis of the above calculations, we will complete the HM Revenue and Customs monthly returns on your behalf – normally electronically. The monthly returns are due by the 19th of each month, even if no subcontractors have been paid since the last return. Failure to meet this deadline will result in financial penalties being levied
We will confirm the monthly return as your agent and submit it electronically / by the internet, based on the information provided by you. We will provide you with a summary of the declared information and it is your responsibility to inform us without delay if you believe an error has been made.
We will calculate and advise you of the amount of tax deducted from your subcontractors that needs to be paid over to HM Revenue and Customs each month. Note that payments need to reach HM Revenue and Customs by the 19th of the month following payment for postal payments and by the 22nd where electronic payment methods are used.
We will prepare written statements of deduction to support each payment, which we will send to you for you to provide to each of your subcontractors by the 19th of the month following payment.
We will maintain the record of payments as required by HM Revenue and Customs in an electronic format, together with any other relevant information held for the purpose of providing you with our subcontractor service.
We will ask you for written confirmation that your subcontractors are genuinely self employed prior to signing / confirming your monthly return which includes the status declaration, on your behalf.
We can also provide advice on a case by case basis, should you so require.
Your advice and support has been invaluable throughout this crisis period. I really appreciate it.
I have worked with Richard for about 8 years and I couldn’t be happier with the level of service and commitment to the success of our business shown by him and his team. Richard is forward thinking and their desire to ‘go beyond’ and combine the accounting work with an appetite to assist in the success of our business is extremely valuable. I look forward to what the next chapter brings.
The team has been great at helping us get to grips with our income, expenditure and future expectations. This has supported us make decisions about the strategic direction of the business. I would highly recommend ‘Accounting & beyond’.
We met with Richard early on in our start-up journey and it’s been great working with him and the team. They are really keen to know what we’re doing and where we’re going and that’s not just about the numbers. We’ve been working with them to define what’s the best way forward and how we can maximise our sales and grow. Looking forward to seeing what the next few months bring!