Contractors who work in the Construction Industry can benefit from the Exact CIS service. By engaging contractors directly through the Exact CIS service, Exact Payroll will assign contractors to you, the agency.
The construction industry scheme (CIS) is ideal for self-employed tradespeople. The contractor will need to register for self-employment and the CIS scheme with HMRC and they would then normally pay a flat rate of 20% throughout all their assignments. Whilst the contractor generally pays 20% tax per pay period no personal allowance is used until at the end of the financial year when they will complete a self-assessment tax return and declare any allowable business-related expenses.
To be eligible to use this pay model, the contractor must complete and pass an assessment to prove they are working outside of SDC (supervision, direction and control), they must also complete our CIS questionnaire.
Self-employed contractors will have access to our secure online portal, allowing quick and easy access to of the details of the payments they will receive
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.
Additional Services & Benefits
- All those working under the CIS scheme will receive a SMS remittance text on a Thursday.
- Remittances can be accessed via our online portal system or posted.
- Payments are made overnight Thursday and will be cleared in your account on Friday.