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Increase your CIS profit margin with BrightPay (without the added costs)

1st Jun 2022
Brought to you by

The payroll solution that provides all you need for Auto Enrolment.

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How can I make a profit offering Construction Industry Scheme payroll services? Discover how with BrightPay Payroll Software

The Construction Industry Scheme (CIS) and its associated responsibilities can be difficult for businesses to understand and manage, and it therefore represents a valuable opportunity for accountants. By offering these services you not only provide greater convenience and value to your client, but you also increase your bottom line.  

Is the extra work worth it?  

If you offer CIS services as part of your accounting package, you likely spend time verifying new subcontractors, producing and submitting CIS returns, processing payment and deduction statements, keeping your clients fully compliant with HRMC, and when required representing them in the event of a CIS enquiry.  

Although these duties can certainly be a profit-making component in your portfolio of services, you may be asking yourself if it’s worth the extra hassle.  

CIS and payroll:  

If you already offer payroll as a service, it isn’t too much of a stretch to consider adding CIS to this. Especially, when you consider what your payroll software can do to help.   

For a time, payroll unfortunately acted as a loss leader in accountants’ business strategies, but with the development of payroll and accounting technology, this is no longer the case. By taking advantage of the payroll software’s CIS functionality, you can add CIS services to your payroll strategy and look to benefit from greater profits.  

By processing CIS payroll you’ll have access to an entirely new customer base with the potential to grow your client list. You can take the complexity out of CIS for those working in construction and offer them expertise and the delivery of an efficient and accurate payroll.  

How does your payroll software help?  

Your payroll software should include CIS functionality which allows you to carry out these services in an easy and efficient process. BrightPay payroll software includes full CIS functionality designed to streamline the entire process for accountants processing CIS on behalf of contractors and subcontractors working in the construction industry. The CIS functionality covers:  

  • CIS weekly and monthly payments 

  • CIS monthly filings 

  • HMRC Subcontractor verification 

  • Yearly CIS reclaim utility 

  • CIS payment and deduction statements 

  • Re-open and edit subcontractor payments 

  • Subcontractor direct payment facility  

Start-up costs: 

When adding new services to your business offering you may expect some initial start-up costs. However, if you’re a BrightPay customer, you won’t be hit with an added cost. Unlike other payroll software providers, BrightPay offers full CIS functionality included in the payroll licence. There are no hidden fees or additional costs to use it.  

New feature! Pay subcontractors directly:  

As mentioned above, included in BrightPay’s CIS functions, customers can now pay subcontractors directly from BrightPay. By signing up to BrightPay’s new integration with Modulr, the payments platform, you can now offer clients the ability to pay subcontractors directly. Even better, it’s quick and easy to do, and subcontractors receive their payment immediately. With Modulr’s faster payments infrastructure, money can be sent to subcontractors in under 90 seconds, 24/7, 365 days a year. Faster payments is a much more efficient method of making payments compared to the traditional Bacs method, saving you time, while adding even greater value to your CIS payroll offering.  

Find out more: 

If you’re interested in learning how BrightPay can improve and add value to your payroll services, schedule a 15-minute demo with a member of our team today.   

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