The Financial Management Centre in Ashford and Maidstone offers the ideal payroll and CIS payroll solutions to businesses. This service is tailored to meet your specific needs, no matter how small or how big your business may be.
Payroll is considered time-consuming and complex by many small businesses in the Ashford and Maidstone area. Outsourcing this important function means you and your staff gain additional time to spend on your main business activities instead of on time-consuming compliance activities.
Our payroll service is fully scalable and streamlined. Our staff are fully updated on HMRC’s ever-growing rules and guidelines in this area. Getting payroll wrong could be costly in terms of HMRC penalties and the potential damage done to employee relationships.
Make sure you get payroll correct 100% of the time by choosing the service of The Financial Management Centre in Ashford and Maidstone.
WHAT OUR PAYROLL SERVICE INCLUDES IN ASHFORD AND MAIDSTONE
Our payroll service includes the below list of features and benefits:
- Payslips – e-slips and security slips. All payslips are customised to your banding
- Telephone support should you need our immediate assistance
- Calculation of PAYE and NI contributions for each employee
- Real-Time Information (RTI) submissions to HMRC
- Student loan payments on behalf of employees
- P60, P14 and P35 submissions to HMRC
- Adding and purging employees from the payroll
These services are suitable for any business that needs to pay the wages of employees. We understand paying your employees weekly or monthly can be a time-consuming process, and we can streamline this by taking care of this element and ensuring the integration with any accountancy software you may deploy running your business.
CIS (CONSTRUCTION INDUSTRY) PAYROLL SOLUTION
In the UK, CIS (Construction Industry Scheme) payroll refers to a specific payroll system designed for contractors and subcontractors working in the construction industry. The scheme is administered by HM Revenue and Customs (HMRC) and aims to regulate tax and National Insurance contributions within the construction sector.
Under the CIS payroll, contractors are required to deduct a portion of the payment made to subcontractors and submit it to HMRC as an advance payment towards the subcontractors’ tax and National Insurance liabilities.
Contractors are responsible for verifying the subcontractors’ tax status with HMRC, keeping records of payments made, and providing monthly statements to subcontractors detailing the deductions made. Subcontractors, on the other hand, need to register with HMRC, declare their earnings, and file tax returns accordingly.
The CIS payroll system helps ensure that tax and National Insurance obligations are met within the construction industry, reducing the risk of tax evasion. It provides a structured framework for managing payments and reporting requirements for contractors and subcontractors involved in construction-related work in the UK.
HELP FOR CONTRACTORS AND SUBCONTRACTORS NEEDING CIS PAYROLL SUPPORT
The Financial Management Centre’s Ashford and Maidstone branch also helps contractors and subcontractors meet their CIS (construction industry scheme) payroll responsibilities. Under HMRC’s CIS scheme, contractors must deduct NI contributions and PAYE from their subcontractors’ wages.
This task is complicated and often requires a significant amount of time in order to complete. Complying with HMRC’s rules and the need to register each employee with a Unique Tax Reference Number is a demanding task for most contractors. Instead, choose The Financial Management Centre instead. Our Ashford and Maidstone-based experts comply with HMRC’s requirements on your behalf. This earns you extra time to spend on your core business activities instead.
WHAT OUR CIS PAYROLL SERVICE COVERS
Our CIS service will carry out the below list of activities on your behalf:
- We will register contractors for the CIS scheme with HMRC
- Verify your subcontractors with HMRC
- We can produce statements of payments & deductions and on monthly/quarterly basis
- Complete your monthly return and submit to HMRC
- Offer general advice concerning all aspects of CIS
CALL TODAY FREE ON 01795 458 586
Call the team here at The Financial Management Centre on 01795 458 586 for more information on our payroll or CIS payroll services in Ashford and Maidstone. The Financial Management Centre has established branches all across the United Kingdom. Click here to learn the location of your local centre. Alternatively, fill out the enquiry form.