CIS Scheme
The Construction Industry Scheme (CIS) governs the way which payments to subcontractors must be handled for tax purposes. The scheme places a number of obligations on employers and contractors with penalties being charged for failure to comply. Outsourcing Construction Industry Scheme works to us will enable your business to stay 100%compliant within the CIS rules. 1. PAYE/CIS Contractor – We register you with HMRC (if a new employer) as both an Employer and Contractor. 2. We handle online verification of subcontractors. 3. CIS300 Monthly and the online submission of same. 4. CIS- CIS deductions are calculated as appropriate and payments can take account of the cost of materials, VAT, CITB Levy, retentions, fees, insurance charges, subs and holiday funds. 5. Pay- Weekly, 2-weekly or monthly pay. 6. CIS Subcontractor are produced, as well as (where necessary) subcontractor invoices. Employees can also be paid directly using our optional BACS Service and/or we will also provide reports and summaries of net pay populated with bank details if required. 7. Paying the- CIS deductions are included on the Employer’s Payslip (P30), Employer’s Payment Record (P32). 8. Detailed management reports for each pay period. 9. End of Year- End of year returns is no longer required by HMRC for CIS Subcontractors. 10. Deal with queries from employees and HMRC (with your agreement and in consultation with you). Free, unlimited Telephone Support. 11. Keeping You- Ensure you meet all the legal requirements including changes in legislation 12. CIS Payroll- Maintain your CIS payroll records. We will remove these burdensome tasks from your business and can undertake the management of the scheme for you, so you don’t have to. We aim to work with you as a partner and will even take care of all your CIS related Inland Revenue dealings so you literally can get on with your construction related works. Our CIS customers have been benefiting from our services for a long time and we honestly believe that our CIS Services would benefit your business also.
