SPECIALISING IN CONTRACTING SERVICES FOR CIS OPERATIVES. TAX & LEGAL COMPLIANCE.

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1 SPECIALISING IN CONTRACTING SERVICES FOR CIS OPERATIVES. TAX & LEGAL COMPLIANCE.

2 ABOUT US & WHO WE WORK WITH Cosgrove Services is a commercial contractor, offering construction services to the construction industry. USING SELF-EMPLOYED CONTRACTORS Cosgrove Services provides its clients with the services of labouronly subcontractors under CIS. We are experts in working with contractors and subcontractors under the Construction Industry Scheme (CIS). ABOUT COSGROVE SERVICES We contract with companies and individual subcontractors. In doing so, we absorb the legal and tax risk that would otherwise be that of our clients. WHAT WE DO Through our registration process, specialist legally backed contracts and retention of our expert solicitors, we are able to secure the self employed status of subcontractors. If we could not secure this status for any of the operatives we would not engage with them. WE ARE HERE, FOR YOU Cosgrove Services invest heavily in tax and legal compliance to ensure our clients remain in the safest possible hands. Our commitment to this is why we retain the services of the very best tax accountants and lawyers in the industry. 1. Cosgrove Services sign contracts with clients 2. Cosgrove Services engages with subcontractors to carry out services By deciding to use Cosgrove Services our clients avail themselves of self employed trades and labour in a way that: removes costs potential employment liabilities administrative burdens responsibility for the compliance within the Construction Industry Scheme. With over 40 years combined experience within the construction industry, we have carefully crafted our service to help our clients remove administrative burdens, legal risk and protect them from nasty fines. Projects that are frequently: over run caught short a new contractor takes over the labour requirements grow What we do: remove administrative burden remove your tax and legal risks benefit from a flexible work force reduce costs and avoid fines have complete peace of mind 4. Client pays one invoice for works carried out by Cosgrove Services 3. Cosgrove Services arranges for services to be completed The amount of work a company has may fluctuate massively. It is in these circumstances that the majority of construction companies engage in the service of subcontractors, either general labourers or skilled tradesman when circumstances dictate. This gives companies the much needed flexibility and freedom to run their company more efficiently, vital to surviving and doing well in this turbulent financial climate.

3 CIS PENALTIES Since the introduction of the CIS penalties regime back in 2007, many contractors have been caught unaware of the significant penalties that are frequently exercised against failure under the scheme. If your business makes use, or wishes to make use of subcontract labour where CIS applies, Cosgrove Services are here to help. Cosgrove Services engages subcontractors (operatives) who are part of CIS and then makes their service available to our clients. WE CAN COSGROVE SERVICES ABSORBS ALL LIABILITIES In doing so Cosgrove Services absorbs all liabilities and potential liabilities associated with CIS, including: Accounting for tax to HM Revenue & Customs on the payments to operatives Dealing with all associated paperwork for that operative Dealing with any fines, levies or penalties, or even claims for national insurance contributions, issued by the tax man HELP Managing and defending Employment Tribunal claims Declaring to HM Revenue & Customs that the operatives has qualified as self-employed. As of october 2011, these are the current penalties under schedule 55 FA Additional penalties can be levied on the following basis: Failure to submit monthly return by the 19th of the month = 100 Information deliberately withheld from HRMC = Up to 100% of the CIS deductions Monthly return still outstanding after 2 months = additional 200 Information negligently withheld from HMRC = Up to 70% of the CIS deductions Monthly return still outstanding after 3 months = additional 300 or 5% of the CIS deductions from the return (whichever is higher!) Monthly return still outstanding after the 6 months = additional 300 or 5% of the CIS deductions from the return (whichever is higher!) Monthly return still outstanding after 12 months = additional 300 or 5% of the CIS deductions from the return (whichever is higher!) In addition to the above, HMRC can levy up to 3000 per monthly return submitted, if you incorrectly tick self-employed status declaration when your subcontractors should have been employed. The final CIS specific penalties are as follows: Failure to provide CIS records to HMRC for inspection = up to 300, plus 60 per day outstanding N.B These penalties apply to NIL returns also. Making a false statement in order to obtain gross status = up to 3000

4 FAQ s THE BENEFITS Cosgrove Services provides construction services. It contracts with companies and individual subcontractors and in doing so absorbs the legal and tax risk that would otherwise be that of its clients. Our CIS compliant service protects your business, gives you complete peace of mind, and makes life easier for your operatives too. Benefits for your business: Remove the worry of status enquires, compliance audits and investigations Reduce the monthly burden of adminstration Cut your risk of incurring fines associated with late returns Get on with running your business Know that the operatives are paid on time, and have the right information for their year-end tax return Enjoy added certainty when tendering Increase your profit margin Eliminate the risk of claims for holiday pay Benefits for your operatives: Reduced paperwork Increased contracting opportunities Paid on time, every time Comprehensive Personal Accident and public Liability insurance cover Flexibility of being self-employed Full support and guidance from our team Heavily discounted services for self Assessment and other tax advice WHAT INSURANCE DO WE HAVE? Cosgrove Services, boasts one of the highest insurance packages in the market, with extensive public liability, product liability and employer s liability insurance. This even covers subcontractors carrying out work on our behalf. In addition, subcontractors are insured in respect of site based accident scheme, which is also the one of the most generous in the market. ARE WE AN UMBRELLA COMPANY? No, Cosgrove Services is a commercial contractor that subcontracts the services of self-employed labourers and tradesmen. Our only employees are office staff, based and operating here in the UK. CAN YOU COME TO SEE US? Certainly, you can call to arrange a meeting in one of our offices, or at your office the choice is yours. ARE WE AUDITED EXTERNALLY? Yes, we invest heavily in having specialists run through our process and all legal documentation to ensure we are running as efficiently as possible and most importantly, ultra compliant! DO WE TAKE RESPONSIBILITY FOR IMMIGRATION CHECKS? Yes as a contractor, Cosgrove Services are not subject to the same duties as an employer would be - however, we check that all subcontractors have the necessary identification to ensure they are here legally and that they are who they say they are. IS IT EASY TO USE US? Extremely, please call to arrange a meeting with one of our specialists on: HOW IT STACKS UP Working with Cosgrove Services Construction does not cost you anything, our administrative fee is paid directly by the subcontractors. Some clients choose to share the cost with their subbies, but this is your decision. Cosgrove Services Construction offers a tiered fee structure. The amount paid by subcontractors depends on their total weekly payment and insurance requirements: From Earnings TO 299 Cosgrove Services Margin Before tax After tax Public Liability Insurance Flat rate Total Inc. Insurance Note: If your operatives do not have their own Public Liability Insurance, we add a 3pw fee to ensure that they have suitable cover whilst contracting with us. Note: To provide maximum flexibility, we do not have any set-up or cancellation fees. So if you use ten self-employed operatives one week, the total cost to them will be 150. If you only need five the following week, the fee drops to 75 From

5 CONTACT US For a free, no obligation consultation with one of our specialists, please do not hesitate to contact us on We look forward to being of assistance to you. Equity House, 31A Queensway, Stevenage, Herts SG1 1DA t: e:

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