Record keeping – we hold details of subcontractors and their payments;
Online verification – we will verify your subcontractors to determine the tax deduction rate for correct payments. The CIS deduction for tax is calculated according to CIS rules.
Monthly or weekly returns – timely submission of CIS returns online with the tax deductions and payments;
Payslips – we produce payment certificate for issue to each subcontractor;
Tax reconciliation for Contractor/Subcontractor – we advise on correct tax liabilities payable to HMRC each month by processing your CIS deductions as well as deductions made from you;
The Construction Industry Scheme (CIS) covers most construction work to buildings, including site preparation, decorating and refurbishment.
The Construction Industry Scheme (CIS) is a tax deduction scheme which involves tax being deducted at source from payments which relate to construction work.
Contractors have certain obligations under the CIS scheme, including checking whether their subcontractors are registered with HM Revenue & Customs (HMRC), paying subcontractors and submitting monthly returns.
The Payroll Agency Limited make these processes simple and straightforward. Please do contact us if you require help and assistance in the following tasks:
Subcontractors – we can process your invoices to contractors and report your CIS suffered figures to HMRC on a monthly basis;
Refunds – we arrange with HMRC refunds due at the end of each tax year.