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KBM offers construction industry scheme (CIS) training focused on HMRC returns, contractors and subcontractors payment and deduction statements. The construction industry is rapidly evolving in the United Kingdom. CIS is an HMRC tax plan for the construction industry of the UK. The CIS contractors have 20% to 30% tax from their subcontractors, which depends on the registration status for CIS. The scheme is to minimise tax evasion in the industry.
At KBM, you will get the knowledge and expertise you need for CIS. Also, you will become capable of using the relevant software. The businesses operating under CIS must avoid potential pitfalls. Our practical training programme includes everything from the time a contractor engages a subcontractor to make payments. It is entirely up to date and contains revisions that HMRC has made to CIS. We will also provide you with practical advice about the management of the common issues encountered with subcontractors.
We will provide you with an opportunity to perform as a trainee on our workplace KBM Chartered Certified Accountants & Registered Auditors, an ACCA recognised as a Gold Level employer. Our experts will supervise your CIS/accountancy training. At completion, we will issue you with a course completion and work experience certificate. Hence, you will become a job-ready candidate. On the other hand, KBM will facilitate you with a recruitment facility. We will help in preparing your CV and interview. Our recruitment experts will connect you with the employers. So your job is guaranteed.
CIS practical training
You will gain practical training about the management of the typical issues that contractors face with subcontractors. It deals with the administration as well. The training will include activities that strengthen your capability and upgrade your knowledge.
You will cover the following topics while training at KBM:
- Purpose of CIS
- Background of CIS
- Establishing employment status importance
- Compliance, payment and electronic filing
- Verification process
- CIS registration and cancellation
- Business and turnover tests
- Procedures of verification
- Understanding penalties
- Monthly returns
- Subcontractors payment and tax deduction processing
- How to launch an online appeal
- Mandatory online filing
- IR35 continued impact
CIS practical course outcome?
At completion, you will become capable of performing the following tasks:
- CIS registration with HMRC
- CIS Module action on Sage or XERO
- HMRC obligation for the contractor and the subcontractor
- New subcontractors’ engagement verification process
- Making correct payments
- Gross pay processing of contractors and their subcontractors
- Understating about essential processes and reporting
- General Law compliance
- Technicalities of CIS scheme
We help to cover the following components:
- Businesses treatment types 'mainstream' contractors
- Register as a contractor under the scheme
- Multiple contractor status
- Treated as a subcontractor
- Types of works and scope of CIS
- Overseas suppliers
- CIS returns by using Sage 50 Accounts
- CIS returns by using the HMRC website
- Self-Assessments for those working in the construction industry
- Implication for a company that is contractor and sub-contractor at the same time
CIS training suitability
The practical training course is perfect for those who:
- Are with accounting or finance background
- Are with finance or accounting qualification
- Has overseas experience but not in the UK
- Are studying CA, ACCA, CIMA, AAT, FIA, or CIPFA
- Are you studying other accounting or finance qualifications
- Are you new to computerised accounting
- Are new to payroll, including RTI
- Entrepreneurs or small business owners want to maintain their accounts and payroll for cost reduction
- Companies wanting to train their employees for payroll or bookkeeping Are visiting the UK and wanting to increase their visit benefits.
- Are accountants looking to establish their accounting firm