Construction Industry Scheme (CIS) deductions need to be reported through your Payroll RTI prior to every payday, along with your regular payroll information.
Recent cases in the news have highlighted the need for correctly reporting tax deductions from employees. This includes a two year investigation carried out by HM Revenue and Customs (HMRC) where they uncovered a £6.9 million tax fraud which was centred on the construction industry.
THSP Risk Management can help you manage your legal obligations to your employees and HMRC with their Payroll Service.
It is easier than you think to set up, simply send us your data and we’ll do the work, saving you time and giving you peace of mind that you’re handling this key management function correctly. We’ll report the Real-Time Information (RTI) to HMRC, send you the net pay details for your staff and provide figures for your tax, NI and where necessary CIS payments. Whether you pay weekly or monthly we can design the service to suit your needs.
If you are unclear about your responsibilities as an employer and want to avoid a hefty penalty in the event of an HMRC investigation, then call us and we will be happy to have a confidential chat to reassure you that your current practices will satisfy the law click here to find out more about our payroll services or call us on 03456 122144.