Kudos have over 40 years’ experience between the partners within the construction industry so the forever changing legislation is nothing new for us. We ensure that your company is fully compliant with the construction industry scheme guidelines. This goes from verifying subcontractors to even assisting with paying individuals through our Bacs payment services. A few of the usual complications taken care of by our CIS department are;
- Verify subcontractors, ensuring their rate of tax deduction is correct.
- Registering subcontractors for the scheme – a simple procedure for us which causes much confusion for others.
- Providing CIS monthly certificates for each subcontractor to give peace of mind that their CIS tax has been paid and declared.
Raising payments on your behalf so that there is no scuffling around on a Friday afternoon worrying if the subcontractor’s wages have been paid. We can take care of all of that through our Bacs system.
In order to ensure that you’re complying fully with the Income Tax (Earnings & Pensions) Act 2003, we strongly recommend that you consider Sub-Go, our sister company for employment and CIS regulations.
Sub-go will carry out a fully assured service to ensure your subcontractors maintain their self-employed status within the legislation.
We ensure that your payroll requirements are met to avoid the stringent HMRC penalties for late filing. With the introduction of the RTI system in April 2014, you essentially have 3 days to notify HMRC when a payment has been made to an employee. We ensure that this deadline with hit through our pro-active approach to payroll.
If you fail to comply, The Pensions Regulator can take enforcement measures, including issuing penalty notices. These are a fixed penalty notice of £400 and a daily fine of up to £10,000 depending on the number of staff you have. They can also issue a civil penalty for cases where you fail to pay contributions due. This is a financial penalty of up to £5,000 for individuals and up to £50,000 for organisations. Click here to read more about these enforcement measures.
Payslips on your smartphone
One extremely common question from employees is ‘I’ve lost my payslip’s, can I have copies’ or ‘my mortgage adviser has asked for my P60 – Can I have a copy’. With our digital solution to this problem, Bright Pay payslips will let you receive all these important documents at the push of a finger on your smartphone. This reduces the admin burden of handing out the payslips to, well, nothing!
Every business will have a handful of employees who are ‘old school’ and can’t get the hang of things online. No problem, we can still send these individuals payslips in the post or print them out for distribution.