CIS Payroll Services

 

The Construction Industry Scheme (CIS) can be a legislative nightmare for contractors and subcontractors alike and the expectation of HMRC for compliance is very high.

 

Our simple CIS Payroll services makes your job a whole lot easier. You’ll be well aware that recently legislation relating to the status of workers in construction industry has been tightened. The liability for non-compliance with the CIS scheme CIS Payroll Services The Construction Industry Scheme (CIS) can be a legislative nightmare for contractors and subcontractors alike and the expectation of HMRC for compliance is very high. Our simple CIS Payroll services makes your job a whole lot easier.

 

You’ll be well aware that recently legislation relating to the status of workers in construction industry has been tightened. The liability for non-compliance with the CIS scheme is all yours.

 

Your responsibilities are to:

 

Verify each sub-contractor with HMRC

Calculate CIS tax Inform the sub-contractor the amount that they will be paid

Take full responsibility for all status submissions to the Revenue

Provide both a payment statement (for each time the subcontractor is paid) and an annual CIS deduction statement.

 

The Risk of CIS Penalties

 

The current penalties for failure include:

 

Failure To submit monthly return, (including a nil return) by the correct date, £100 Monthly return is still outstanding after 2 months, an additional £200 Monthly return outstanding after 3 months = additional £300 or 5% of the CIS deductions from the return (whichever is higher), and additional increases for returns that remain outstanding at 6 and 12 months.

Review and even loss of gross payment status Penalties for failures by both contractors and subcontractors are harsh and difficult to mitigate, so we at Gateways can help you get your house in order, either at the outset or now. Why not give us a call today and let one of our CIS consultants offer you a FREE consultation and see just how much time and money we can save your business.

 

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