Sub-contractors Ledger (CIS)
Flexible Construction Industry Scheme solutions
Overview
For organisations in the construction industry, or those involved in either side of a sub-contracting relationship, Dimensions provides a full set of functions supporting the processes and procedures involved. Access CIS has been designed to ease the process of paper chasing and keying data into separate spreadsheets, bringing the entire legislative process into one application that handles all your contractor responsibilities. All existing schemes are catered for, with full extensibility to future regulations built into the design. This module is available in a web-enabled or 'desktop' version.
Key Benefits
• Comply with legislation - with minimal effort
• Avoid HMRC queries - by getting it right first time
• Quick and easy – automatically match and verify your sub-contractors online
• Automatic calculations – at point of remittance, Access CIS calculates and deducts the amount of tax withheld and CITB levy in accordance with HMRC
• Unlimited number of records – keep records on all sub-contractors both past and present at no extra cost
Validating your sub-contractors
Each sub-contractor record holds detailed information including tax status, Unique Tax Reference (UTR), CIS300 Name and optional insurance details. This information is matched and validated via an online connection with HMRC. As sub-contractor information goes out of date, the system automatically assembles a list to be verified the next time you connect with HMRC.
Making Payments
Invoices submitted by your sub-contractors are are entered into the system and then matches to a purchase order or recorded in the systems Purchase Order Register. Invoices and purchase orders can be broken down into CIS taxable elements ensuring you only deduct PAYE on the relevant elements such as labour, subsistence and travelling costs. These deductions can be viewed when entering purchase transactions via the Purchase Ledger, Purchase Order Processing or Purchase Invoice Register.
Authorisation levels enable you to control your payment procedures by ensuring the invoice amount is correct and you only make payments that you are committed to at that time. This helps you improve your cash flow and forecast your commitments for the future.
The system also records details of full payment amounts and any early settlement discounts as defined in the sub-contractor record.
Monthly Reporting
A new CIS300 monthly return replaces vouchers and Year End returns and failure or late submission could result in a £3000 penalty. To avoid this, Access CIS provides a CIS300 report which can be submitted online or used to complete the HMRC paper return. Online submissions benefit from a confirmation from HMRC stating that the form has been received and has been processed.
Statutory returns
PAYE deducted at month and year end can be entered into the Payroll module, where it updates the statutory returns (P32 & P35). Within the payroll system, there is a field for offsetting withheld PAYE. This can be used by companies that are themselves sub-contractors.
Payment & deduction statements
Access CIS includes a pre-formatted report for contractors to issue monthly statements to their sub-contractors showing payments made and tax deducated as per HMRC requirements. Historic (duplicate) statements of payments and deductions can also be produced.
Self billing
Access CIS also provides facilities to create invoices on behalf of sub-contractors, enabling you to record all transactions within the system.
CIS for Sales
Dimensions web-enabled CIS provides the ability to raise applications for payment following the process most suitable for the type and needs of the business. The forms can be raised on a cumulative basis or not as required. They can take into account multiple discounts and retentions as well as registering certificates received.
