Decoding the Construction Industry Scheme (CIS): meet our expert Des Sudworth

Understanding how the Construction Industry Scheme (CIS) impacts individuals and businesses can be difficult to ascertain, and ongoing compliance obligations can be a time-consuming task.

‘Contractor’, ‘subcontractor’, ‘domestic reverse charge’, ‘gross payment status’, ‘end user’ and ‘construction operations’ are just a few examples of technical terminology that any individual or business operating within the construction industry must be fully aware of. The understanding of these terms will ensure consistent compliance with any reporting requirements. These terms are not just relevant to those who would deem themselves to be squarely within the scheme, but property investors who may consider renovations or extensions would also need to have a level of awareness as to when the Scheme may become relevant to them.

This can be very difficult to understand as some areas of the scheme are not black and white and do not have right or wrong answers. Advisors with extensive industry experience that can be applied to any scenario are, therefore, very valuable.

Experience

Des Sudworth joined Kreston Reeves in 1989 (or Reeves & Neylan as it was then) and has since progressed through the ranks, and is now the current Director of Accounts and Outsourcing. Des has experience with a wide range of owner managed businesses, from large new-build contractors to sole trader subcontractors, and with the help of his team regularly carry out one-off pieces of advisory work and manage ongoing compliance services.

Over the last few years, Des has led, and supported, various business transactions, enabling him to work closely with business owners and their legal advisers. Des’s understanding approach with his clients is due to his time spent working within the finance team of a large multinational listed company, allowing him to experience the accounting world from both sides of the fence.

Furthermore, Des also specialises in the Real Estate sector, and has a particular interest in the property and construction industry He works closely with his clients in this sector, especially with accounting and taxation issues surrounding property developments.

Providing you with solutions

“We often work with clients to firstly assess their unique situation to ensure the scheme applies before moving onto other areas as on many occasions the client’s activity doesn’t fall within the scheme at all” explains Des.

“We regularly provide assistance with HMRC registrations, reclaims for overpaid tax and monthly compliance obligations”.

“Our CIS team has formed close links with our firm’s VAT advisory team who can provide advice as VAT implications can often be significant for our real estate clients”.

If you have a question or would like further information on how Des and our specialist Real Estate team can help you, contact us today.