CIS Specialists
CIS Accountants Peterborough
Figures UK are specialist CIS accountants serving contractors and subcontractors in Peterborough and across Cambridgeshire. We handle every aspect of Construction Industry Scheme compliance as part of your fixed monthly fee.
Construction Accounting Experts
CIS Is Complex. We Make It Simple.
The Construction Industry Scheme is one of the most administration-heavy compliance obligations in the UK tax system. Monthly returns, subcontractor verification, employment status decisions, deduction statements — all carry significant penalties if done incorrectly or late.
Figures UK have been managing CIS for construction businesses in Peterborough and Cambridgeshire for over 15 years. We support contractors, subcontractors, and businesses that operate as both — covering everything from initial registration through to monthly returns, deduction reclaims, and Making Tax Digital compliance.
As a Xero-only firm — one of the very first in the UK to adopt Xero with our clients, backed by receipt extraction software — we keep CIS records digital, accurate, and MTD-ready from day one.
CIS is included within your fixed monthly accounting fee. No surprise charges when filing season arrives, and unlimited phone and email advice whenever you need guidance.
Why contractors choose Figures UK for CIS
What We Cover
Our CIS Accounting Services
From registration through to deduction reclaims, we handle every aspect of CIS compliance on your behalf.
CIS Registration
We register your business as a contractor or subcontractor with HMRC and ensure all initial compliance requirements are met correctly.
Monthly CIS Returns
As a contractor, you must submit monthly CIS returns to HMRC. We handle every submission accurately and on time, avoiding the 200 per-month late filing penalty.
Subcontractor Verification
Before making any payment, contractors must verify subcontractors with HMRC. We manage this process to ensure the correct deduction rate is applied every time.
CIS Deduction Statements
We produce monthly deduction statements for all your subcontractors, giving them the documentation they need for their own tax returns.
CIS Tax Reclaims
Subcontractors often overpay tax through CIS deductions. We calculate and claim back the correct amount through your self-assessment or corporation tax return.
Employment Status Advice
Getting employment status wrong under CIS can trigger large HMRC penalties. We advise on whether workers should be treated as employed or self-employed under CIS rules.
Common Questions
CIS Frequently Asked Questions
How easy is it to switch accountants, and can you take over partway through the year?
Very easy — and yes, you can switch at any point in the year. As one of the very first UK firms to use Xero with clients, we make the handover seamless: we request your records, migrate your books into Xero, and handle the transfer to HMRC and Companies House for you. There's no disruption to your deadlines and no need to wait for year end.
What is the Construction Industry Scheme (CIS)?
CIS is an HMRC scheme that requires contractors in the construction industry to deduct money from their subcontractors' payments and pass it directly to HMRC as an advance payment towards the subcontractor's tax and National Insurance. The standard deduction rate is 20% for registered subcontractors and 30% for unregistered ones.
Do I need to register for CIS?
If you are a contractor who pays subcontractors for construction work, you must register for CIS. If you are a subcontractor, registering means you'll have 20% deducted rather than 30%. Figures UK handles the registration process on your behalf.
What happens if I miss a CIS monthly return deadline?
HMRC charges £100 for the first month late, rising to £200 per month after two months, £300 after three months, and potentially up to £3,000 per return if filed very late. Figures UK ensures all your monthly returns are filed on time as part of your fixed monthly service.
Can I reclaim CIS deductions made from my payments?
Yes. If you are a subcontractor and CIS deductions have been taken from your payments, you can usually claim them back through your self-assessment tax return (sole traders) or corporation tax return (limited companies). In many cases the deductions exceed your actual tax liability, resulting in a refund. Figures UK calculates and submits these claims for you.
What is the difference between contractor and subcontractor under CIS?
A contractor is a business that pays other businesses or individuals (subcontractors) for construction work. A subcontractor is the business or individual doing the work. The same business can be both a contractor and a subcontractor — for example, a building company that hires labour while also working as a subcontractor for a developer.
How much does CIS accounting cost with Figures UK?
CIS accounting is included within your fixed monthly accounting fee. Sole traders pay £73 per month on Making Tax Digital and limited companies from £220 per month — covering CIS returns, bookkeeping, VAT, payroll, and unlimited advice with no hidden extras.
Get In Touch
Get In Touch With Us
Want a fixed monthly quote or a quick chat about switching accountants? Send us a message — we'll reply with clear next steps.
Worried about switching? Don't be.
You can move to Figures UK at any point in the year — no need to wait for year end. We handle the entire handover, including moving your records and transferring everything to HMRC, so the switch is seamless and stress-free for you.