CIS

Dee42

I just got my first official client whom is due to employ subcontractors next week for a project.

Is this the right process for setting him up?
- registering him for cis
- registering him for vat
- sending of form 64-8
- sending off FBI2
I was of the impression that I could seek online authorisation once I set him up for CIS and VAT without 64_8
Thanks and hoping for a swift response

Dee42

Also how much is reasonable for 3 subcontractors and two employed staff? Someone said to me £50 per month. I feel it's very low

burg

1 - What services are you actually providing?
2 - Is the client self-employed or a limited company?

Once we have this info we can answer things better for you.

Dee42

It's a start up limited company (Construction) and I am taking care of the accounts from bookkeeping to preparing the accounts.

Services Required
bookkeeping, CIS registration and administration, VAT registration and administration and accounts preparation.

burg

OK awesome,

So things to do:-

1 - CIS registration
2 - VAT registration
3 - 64-8 or online authorisation for CIS, VAT and CT

As for fees well that depends but not £50 per month.

As a guide our fees would be (assuming turnover less than £250k)

Silver package (Accs, Corp Tax, Bookkeeping (bank rec using Xero), Personal tax returns) = £199 per month
CIS returns for 3 staff = £15 per month
2 staff (unless directors) = £15 per month

If we were running a purchase ledger for them for trade suppliers on top then my guess would be this would be approx 50 invoices per month so = £90 per month

We don't do bookkeeping at all if it is heavily cash based or boxes of receipts and invoices. This would all be based on 90% of transactions being via the bank and using Xero with bank feeds. It includes a Xero subscription.

With our set up we are possibly slightly higher than sole practitioners and definitely likely to be higher than those still operating from home. However £50 per month for all that is far too cheap.

Dee42

Hi Burg,
Thanks, that is helpful