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Sole Trader/ Self Employed CIS

Designed to enable contractors to form their own limited companies, AOG RESOURCES CIS provides all the professional services required by an individual wanting to create their own business.

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AOG CIS Payrol

Offering construction workers full employment rights with tax and NIC contributions taken at source, AOG RESOURCES CIS Collective, or ‘Umbrella’, also enables up to 15% of salary to be reclaimed in legitimate expenses.

The ‘CIS Umbrella’ product also enables contractors to maximise their income and yet still benefit from all statutory benefits including sick, maternity and holiday pay.

With all the additional benefits of AOG RESOURCES CIS core collective ‘Umbrella’ product, CIS ‘Umbrella’ is suitable for construction contractors who prefer a complete service with minimum administration.

AOG CIS provides best value and complaint umbrella, accountancy and financial services to contractors and freelancers. We connect your financial needs and help make your money work harder.

Our services include;

  • Limited company accountancy services for contractors and freelancers including tax and financial planning support.
  • Complaint UK based PAYE Umbrella solutions
  • CIS payroll solution for approved contractors and freelancers working in the construction industry.
  • Agency services including payroll and back office solutions
  • Tax reclaim services
  • We understand one size doesn’t fit all, and so help you decide which solution or service takes your finances further
  • Dedicated and experienced account managers, here to support you with first class service
  • Preferred Suppliers for some of the UK’s largest recruitment agencies.

CIS Self Employed

AOG RESOURCES CIS ‘self-employed’ is the most popular product for all self-employed construction industry subcontractors to ensure their earnings and statutory HMRC deductions are managed effectively.

The AOG RESOURCES CIS product has been designed specifically to cater for subcontractors who require an efficient and reliable mechanism to guarantee that they are paid on time and in accordance with CIS legislation.

Developed purely for those working in the construction, road and rail sectors, AOG RESOURCES CIS ‘self-employed’ has the flexibility to accommodate all potential self-employed scenarios. These include contractors working on assignments via recruitment agencies or companies direct, contractors who wish to become self-employed, self-employed contractors accepting additional assignments, plus those employees with additional self-employed contracts.

AOG RESOURCES CIS ‘self-employed’ is the perfect ‘hasle-free’ option designed to maximise the benefits of CIS status within the construction industry.

  • Totally HMRC complaint product
  • All statutory CIS payments are made on your behalf
  • Industry leading daily fee structure – £ 3.75 + VAT
  • Guaranteed payment dates of gross earnings(less deductions)
  • Access remittance advice and statements online
  • Includes Public Liability (£ 10m), Employers Liability (£ 10m) and Professional Indemnity Insurance (£ 5m)
  • Dedicated account manager to assist you at all times
  • Cost effective assistance with personal tax returns (optional)

What is CIS

CIS stands for Construction Industry Scheme – it’s a special system that HMRC have set up for the construction indistry.

CIS stands for Construction Industry Scheme which is a set of special rules laid out by the tax office for handling payments made by contractors to subcontractors for construction work .

The Construction Industry Scheme(CIS) applies to contractors, subcontractors and any organisations that have a high annual spend on construction, even if their main work isn’t in the industry. If your firm is involved in construction, it may need to register with HMRC under CIS.

When registering you need to indicate whether you’re a contractor or subcontractor as different rules apply to each category. Within each category there are separate terms that define your business.

It relates to self employed, limited companies and LLP’s.

It covers Builders, Labour agencies and staff bureau’s, Gangmasters or gang leaders and property developers.

What’s included in our Sole trader service

Setup

  • Advice on suitable business structure
  • Help opening a business bank account
  • Explanation of your responsibilities & deadlines
  • Help registering with HMRC as a Sole trader

VAT

  • Advice on which VAT Registration is best for you
  • VAT & Flat Rate scheme (if required) registration
  • Completion & online submission of quarterly VAT returns
  • Telling you how much, when & how to pay your VAT bills
  • General VAT Advice

Accounts

  • Completion of full accounts
  • Completion and online submission of Self-Assessment tax return
  • Tax computations
  • Telling you how much, when & how to pay your Tax bill
  • General tax saving advice
  • Unlimited support via telephone, email
  • Dedicated account manager
  • Up to date tax calculations
  • Secure online document storage

Section 1

The ‘client’ means the business you are providing your services to.

  • Does your contract state that you are an employee of the client?
  • Is it intended that you should become an employee of the client?
  • When you commence your assignment, do you have good reason to believe it will be for a long period (say over 19 months) of time?
  • Does the client usually request you provide services through your PSC?
  • Are you a member of the client’s pension scheme?
  • Does the client pay you sick pay if you are off work? Does the client pay you holiday pay?
  • Are your terms and conditions the same as the permanent employees of the client?
  • Does the client give you a company car or van?
  • Have you the authority to hire and fire the client’s staff?
  • Does the client have an obligation to offer you regular work?
  • Do you have to accept work from the client if you’re offered it?
  • Are you eligible for redundancy notice or redundancy payments from the client?
  • Do you use the client’s letter headings and business cards, and claim expenses on the clients claim form?

It will help your case for self-employment for IR35 purposes if you can answer YES to the following questions:

  • Could you (or your agency) find a substitute to undertake your work if you cannot undertake the work yourself?
  • Having been allocated your assignment, you are given reasonable freedom as to how you complete it?
  • Do you take any financial risk and use your own equipment on each assignment?
  • Is your contract for as long as your services are needed, rather than for a fixed period?
  • Do you regard yourself as being independent from the client and do permanent employees of the client regard you as independent from the client?

Sole Trader Accounting

Up to date tax estimates complement great support from your dedicated accountant who will file all of your tax returns.

Trading as a Sole Trader, or Self-Employed, can be one of the easiest ways to operate so we offer a low monthly fee to reflect this.

Operating as a Sole Trader/Self-Employed can provide simplicity and flexibility but it may not be the most tax efficient business model for everyone, with some being financially better off using a Limited company. we can provide you with some calculations to make sure this is the right option for you.

Accounts & Returns

All of the accounts and various returns needed for your business. Including VAT returns(if applicable) & your self Assessment tax return. We will also take care of all other compliance paperwork.

What Is IR35?

IR35 is tax legislation introduced in the 2000/2001 tax year. Its purpose is to ensure that those individuals who work through a limited company and who therefore treat a portion of their income as salary and a portion as dividend are entitled to do so. This largely hinges on the basic question “are you self-employed or employed?”

Unfortunately, there are no hard and fast rules on this and it is initially the Tax Inspector and ultimately the courts, to consider each case that comes before them. As the legislation is still new, there are relatively few court rulings to help us, so the best you can do is to take reasonable precautions to consider whether the legislation could affect you. If the Inland Revenue decides that you should be regarded as “employed”, and then you would potentially be liable for the tax that should have been paid had all your income been treated as subject to PAYE and NIC.? This is largely the PAYE and NIC that you saved by working through your Recruitment and Services allotted PSC, subject to certain allowances.

You could also be charged interest on the amount you have been found to have underpaid – and possibly penalties as well, if the Inspector feels you are at fault.

How do I decide if I’m self-employed for IR35 purposes?

Unfortunately, this is far from simple as there are so many possible interpretations that can be put on how you work, as each assignment can differ. However, there are some pointers that can help. Please consider the following sections carefully.