Cockermouth, UK -- (SBWIRE) -- 12/17/2013 -- Simplyco CIS makes self-employed subcontractors and contractors enjoy the full benefit of the Construction Industry Scheme. CIS is developed for the construction industry by HM Revenue and Customs and all those who are working for the construction industry, contractors and subcontractors alike, are required to be registered with the HRMC if their line and location of employment falls under the CIS scheme.
Simplyco CIS functions as a contractor that would simplify requirements that guarantees the full benefits of their subcontractors. What happens is that the company would be the one to take care of the CIS tax status filed under HRMC, and they are the ones who prepare invoices and help subcontractors calculate the payment that they need to receive from their clients. As a contractor, they would also be the ones that would forward the tax to HRMC and process payments as a direct deposit to the bank. They are also the ones who would take care of the CIS Online assessment.
In effect, the entire process saves those who enroll under the Simplyco CIS from the trouble of all the processes and paperwork that they need to comply to. It makes self-employment a lot easier since all that contractors and subcontractors need to do is to fill in the hours that they need to be at work, while Simplyco takes care of their accountancy needs. That provides tremendous benefits for subcontractors that would like to get started with work right away, and contractors that would want to save their time and fulfill their clients’ needs instead.
For more information about how Simplyco CIS works, and the range of services that you can avail from this scheme, you can sign up and request a walkthrough from Simplyco by calling 01900 898440 or email firstname.lastname@example.org today.