In the Construction Industry Scheme (CIS), contractors are obliged to deduct money from subcontractors’ payments for HMRC. This is similar to PAYE, where deductions are like advance payments towards a subcontractor’s tax and national insurance. One Click Umbrella can help you focus on running your business with less red tape.
CIS Compliance with Less Bureaucracy
Under CIS, monthly returns for payments are required by HMRC. Like any tax system, there are penalties for late returns, ranging from a £100 to £3,000. It’s important to keep track of your CIS returns rather than getting an unwanted surprise later in the year.
When using CIS Umbrella, contractors can relax with help and advice from our personable staff. That leaves you with more time to focus on higher-earning activities.
All the Tools You Need to Do Business
Using an umbrella service takes the hassle out of admin work with clear upfront fees. You can access our online portal anytime, anywhere, to control and view your expenses. When dealing with a client, it helps to keep CIS returns and payments clear and simple. With a One Click Umbrella, you get a service that manages invoices and contracts between parties.
Key Benefits of Using CIS Umbrella
Whether you’re a contractor or sub-contractor, some of the benefits of using a CIS umbrella include:
- Claim back business expenses
- CIS registered contractors pay less NI contributions and reduced tax
- Fast and easy registration with One Click Umbrella
- Online portal for better understanding and clarity
- Free optional text message service for payment updates
- Public liability and personal accident insurance for a small fee
- Advice on your tax remittance
- 100% compliance with HMRC legislation and no hidden fees
- CIS obligations made easy
Expert Accountancy and Payroll Solutions
One Click Group works with many of the UK’s largest and most respected recruitment agencies. If you’re a freelancer or contractor and need further clarification about the Construction Industry Scheme or wish to find out more about our accountancy and CIS Umbrella services, contact One Click Group today.
Along with over 13 years experience in the contractor payroll industry, and after spending most of his working life as a financial advisor in the regulated financial services industry, Mike has garnered an extensive network of contacts in the recruitment industry, many of whom trust both him and the One Click Group to handle their accounting. Mike has also been a member of various industry bodies throughout the years, such as the British Institute of Recruiters, in order to champion best practices across the contractor payroll industry.