Processing payroll for employees in a timely and accurate manner is essential to running a business, so the payroll accounting can calculate payroll salaries and wages, bonuses and commissions, determine the correct individual deductions and withholding taxing, and file tax reports and payments with HMRC. CIS Payroll relates specifically to the construction industry, it outlines terms and regulates the way a sub-contractor is paid. A construction company wanting to take on a sub-contractor must follow strict guidelines: You must first register your company with HMRC as a CIS Contractor.
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