"Employees are insured whilst using this scheme with £10m liability and standard employers liability insurance for added peace of mind."
Exact CIS provides people working the construction industry to benefit from a more streamlined approach to tax and national insurance payments through PAYE, whilst maximising take home pay and ensuring HMRC compliance for the contractor.
Employees who are eligible for the Construction Industry Scheme can benefit from the Exact CIS service. By employing staff directly through the Exact CIS service, Exact Payroll contract staff back to you, the agency. This solution ensures agencies and contractors are fully HMRC compliant when working staff over the 12 week threshold.
The construction industry specific scheme is ideal for tradespeople who are looking to carry out regular work for a single contractor. By collecting Tax and National Insurance at a consistent flat rate of 20% throughout the year, it ensures contributions are made reguarly and reduces the end of year tax bill. Submitting expenses at the end of the financial year allows tax to be offset from earnings.
Employees are insured whilst using this scheme with £10m liability and standard employers liability insurance for added peace of mind.
End of year submissions to conclude tax affairs can be undertaken at a heavily reduced rate.
We provide employees with access to a secure online portal, allowing a quick and easy method for collecting hours and expense details for the week or month. Once completed it is instantly sent to your account manager. Expenses are calculated, dedeuctions are then made, pay is calculated and scheduled for payment. Taxes are deducted from pay and paid directly to HMRC. The portal also allows 24/7 access to payslip history for employees.
We are highly competitive in the industry, offering a simple and transparent pricing structure that scales based on the number of employees. This makes Exact the ideal payroll partner for recruitment agencies with staff enrolled on the Construction Industry Scheme.
We pride ourselves on our high level of service in this sector, and therefore appoint a dedicated account manager who acts as a single point of contact – providing continuity and greater efficiency for your payroll processing.