Under the Construction Industry Scheme (CIS), you may be obligated to deduct money from your contractors to pass on to HM Revenue and Customs (HMRC).
In simPRO, you can assign the appropriate deduction rates to individual contractors and apply these rates to your contractor invoices. You can then easily generate reports with the information you require to file your CIS Monthly Returns report with the HMRC*.
simPRO can generate reports with all the information you require to file your monthly returns with HMRC. With filters to make your report as specific as required, you don’t need to make any additional calculations once simPRO has generated the report.
You can also print and save a CIS Payment and Deduction Statement to provide each contractor with a summary of the money you deducted and paid to HMRC.
simPRO can also assist with reporting when you’ve worked as a contractor and customers have deducted CIS from your invoices.
With a CIS Deductions report, simPRO can provide you with a detailed breakdown of dates paid, amounts paid, and CIS deducted for a specified date range.
*This webpage provides information on the CIS features in simPRO only, and should not be interpreted as legal or financial advice. Read more about CIS in simPRO, or consult the UK Government website for information on your CIS obligations.