CIS Construction Industry Scheme
Reduce the CIS pain!
Xero for small business provides a simple method of accounting for the construction industry scheme. Once set up, invoices match payments and the respective deduction is automatically posted to the balance sheet to reclaim or pay to HMRC.
● We verify subcontractors 0%, 20% or 30%.
● We manage CIS deductions file with HMRC using real-time figures.
● We email monthly CIS reports to every sub-contractor.
● We save clients time on manual data entry using Dext an automatic receipt capture app in 3 clicks.
Remove this headache!
Is this the best 5 step CIS process in the UK?
1. You provide the below for new subcontractors and forward the invoice.
2. You photograph or email the supplier invoice to Dext.
3. You make payment based upon the breakdown shown in Xero.
4. You approve the CIS report.
5. You pay HMRC the amount we email you each month.
Ask for a demo!
New Subcontractor information required.
Sole trader:
• Name
• Email address for deduction statements to be sent.
• UTR
• National Insurance Number
Company:
• Name of company
• Email address for deduction statements to be sent.
• Company’s UTR
• Company registration number
The domestic reverse charge VAT is also auto calculated.
