PAYROLL & CIS

PAYROLL & CIS

Payroll & CIS Payroll

For Employers Or Business Owners Thinking About Employing People

Would you like somebody to help you out with your payroll?

Would you like to expand your business by employing people, but don't need the responsibility and hassle of organising a payroll?

We can take care of every aspect of your payroll including the year end returns. Also, if you are a director or employee a P11D form may be required. A P11D is a form detailing the return of expenses and benefits paid, which must be filed by a director or employee who earns over a predefined threshold. If required we can take care of P11Ds.

Pension

All employers must provide a workplace pension scheme. This is called 'automatic enrolment'.

If you haven't already got your scheme in place, now is the time to start preparing.

There are many rules about what a company must and must not do. Here, we look at these in simple terms, to help you better understand what is required.

Once everything is set up, there will of course be the need to manage records, ensure that new staff are enrolled properly, and regularly review that the process is working and sticking to the rules.

CONSTRUCTION INDUSTRY SCHEME

As a contractor, rules you must follow:

  • You must register for CIS before you take on your first subcontractor.
  • You must check if you should employ the person instead of subcontracting the work. You may get a penalty if they should be an employee instead.
  • Check with HM Revenue and Customs (HMRC) that your subcontractors are registered with CIS.
  • When you pay subcontractors, you'll usually need to make deductions from their payments and pay the money to HMRC.
    Deductions count as advance payments towards the subcontractor's tax and National Insurance bill.
  • You'll need to file monthly returns and keep full CIS records - you may get a penalty if you don't.
At SBS the services we will provide will be :
  • Register contractors with HM Revenue & Customs (HMRC) for the CIS scheme
  • Verify your subcontractors with HMRC
  • Produce monthly statements of payments & deductions
  • Submit your monthly returns to HMRC
AAT Licensed Accountant

P S Alagaratnam is licensed and regulated by AAT under Licence Number 1000171.