Common Questions
Frequently Asked Questions
I'm a Chingford builder who's started using my own subcontractors. CIS registration as a contractor?
Yes, mandatory. If you pay subcontractors for construction work you're a CIS contractor regardless of whether you're also a subcontractor elsewhere. You register with HMRC, verify each subcontractor before first payment (giving you their correct deduction rate), deduct CIS at the right rate, file monthly returns by the 19th of the following month, and issue payment and deduction statements. We'll handle registration and monthly compliance.
I'm a Chingford self-employed electrician working CIS for one contractor. What records do I need?
Income: payment statements showing gross, CIS deducted, net paid. Expenses: receipts for tools, PPE, materials, van fuel/maintenance, phone, accountancy, registrations, training. Vehicle: either a mileage log for the 55p/25p (up from 45p/25p, from April 2026) method or actual vehicle costs. HMRC requires records kept for 5 years from the 31 January deadline. We provide a phone app that captures receipts as you buy them.
My Chingford Ltd company is six months from year-end. Tax planning now?
Equipment over £1,000 can be capitalised with capital allowances - consider bringing forward purchases. Director pension contribution up to £60,000 is tax-deductible for the company. Dividend timing shifts dividend tax between tax years. Bonus accruals are deductible if paid within 9 months. We'll run through the full checklist.
I'm a Chingford commuter with PAYE plus weekend trade work. Two returns?
One self-assessment combining both. PAYE goes in employment pages with your P60; the side business goes in self-employment pages (gross sales less expenses). National Insurance is calculated across both with caps preventing double-charging. We make sure you're not overpaying NIC.
My Chingford landlord property borders Epping Forest. Any special tax considerations?
Not for forest-edge specifically, but check restrictive covenants on the property. For tax it's a standard residential let with normal income tax on rent, Section 24 mortgage restriction for personal owners and standard CGT on disposal. We handle the landlord self-assessment.
I'm a Chingford sole trader plumber thinking about a Ltd company. Profit threshold?
Roughly £40,000-£50,000 net profit is the usual breakeven. At £40,000 a company saves £1,200-£2,500 a year; at £60,000, £3,500-£5,500; at £80,000, £5,000-£7,500. Below £30,000 the saving rarely justifies the extra admin. We'll model it with your numbers.
My Chingford Ltd company has traded eight years. Capital extraction on winding down?
A Members' Voluntary Liquidation is usually most tax-efficient for solvent closure with significant reserves - reserves come out as capital with Business Asset Disposal Relief at 10% potentially applying, versus dividend extraction at 33.75%/39.35%. For £150,000+ of reserves an MVL typically saves £15,000-£30,000. We'll arrange it if it fits.
How do I get started?
Book a free 15-minute call via Calendly or ring 07478 645331. We work with Chingford clients fully online, we're experienced with the heavy CIS workload of east London building trades, and we deliver same-day filing for urgent overdue situations.