Anybody involved in employing workers in the building industry will be well aware that the Construction Industry Scheme (CIS) can be a minefield at times, and complying with all of the relevant legislation and regulations can be a full time job in itself.
Employers must complete a verification procedure before paying a sub-contractor and the payments are subject to specified CIS tax rates. Employers are also required to file their monthly tax returns over the internet.
As experienced specialists in the field of CIS and HMRC CIS, at Moorepay we make it simple for you to run an efficient and accurate CIS payroll to meet all HMRC requirements, with our dedicated Construction Industry Scheme payroll software.
At Moorepay we were proud to be one of the very first major CIS payroll package providers to receive the recognition letter from HM Revenue & Customs (HMRC) for online filing of returns and verification requests under the Construction Industry Scheme commencing 6 April 2007.
This was official confirmation that our service meets the requirements for online submission of monthly CIS tax returns (CIS 300) and verification requests over the internet and ensures that all of our HMRC CIS processes comply with the necessary regulations.
Our software controls the entire CIS payroll process. When setting up an individual's Construction Industry Scheme record, there is a choice as to whether the person has PAYE or sub-contractor CIS tax status. In the case of a sub-contractor, a unique tax reference is required and/or a national insurance number, before the payment amount can be entered. With Moorepay's HMRC CIS-approved solution, the record creation procedure automatically assigns an NT tax code and NI letter of X to the sub-contractor.
This means that sub-contractors and PAYE employees can be handled in the same data file, thus reducing administration. In turn it also means that employers can receive CIS management reports that show sub-contractor and PAYE employee data both separately and combined.
All sub-contractor settings need to be verified with HRMC CIS and the user is reminded of this when the CIS tax and payroll record is being created. Once accepted, specific details of the trading status of the Construction Industry Scheme sub-contractor can be entered, such as sole trader, partnership, trust or company, together with other associated information, making CIS administration both quick and simple.
Verification of the sub-contractor can be made by telephone, manually on the HMRC CIS website, or online by simply clicking our payroll system online verification button, which will guide you through the relevant Construction Industry Scheme pages. Whichever method you prefer, the CIS payroll verification number and dates are recorded and the appropriate CIS tax is deducted on the next calculation.
It really is as simple as that to handle all of your CIS payroll functions with Moorepay.
If you would like more information about our CIS payroll and HMRC CIS services, call our team of CIS experts on 0845 184 4615 or simply fill in the short enquiry form.