Payroll & CIS
Payroll
- Implementing weekly, fortnightly, four weekly or monthly payrolls
- Salaries & hourly work payrolls
- Filing Year End payroll documents e.g. P60, P35, P11d
- Managing benefit schemes including childcare vouchers, pension contributions & healthcare
- Calculating student loans, sick pay, maternity & paternity pay
- Recording absence & holiday periods
- Calculating PAYE & NI Contributions
- Updating changes in legislation
- Auto-enrolment Pension Schemes – we can manage your scheme so you don’t have to. We will also submit the 3 yearly re-enrolment compliance to The Pensions Regulator
Construction Industry Scheme – CIS
Under the Construction Industry Scheme (CIS), contractors deduct money (20%) from a subcontractor’s payments and pass it to HM Revenue and Customs (HMRC).
The deductions count as advance payments towards the subcontractor’s tax and National Insurance.
Contractors must register for the scheme.
Subcontractors don’t have to register, but deductions are taken from their payments at a higher rate (30%) if they’re not registered.
You can get more information about the Construction Industry Scheme at www.gov.uk/what-is-the-construction-industry-scheme
If you are registered under CIS as a contractor, you will need to file monthly returns and keep full CIS records, you may get a penalty if you don’t.
You must register as a contractor if you either:
- pay subcontractors for construction work
- your business does not do construction work but you have spent more than £3 million on construction in the 12 months since you made your first payment
Skelton & Co Accounting Ltd can help you complete your monthly return so that at the end of the financial year all information required by HMRC will have been submitted. We will also send out CIS Payment and Deduction Statements to each subcontractor monthly and an annual one.
