Inoapps’ Construction Industry Scheme (CIS) Cloud
Make sure your business HMRC CIS compliant
For every UK based Construction business, there are certain requirements that need to be met under the Construction Industry Scheme (CIS). This includes checking that subcontractors are registered with Her Majesty’s Revenue and Customs (HMRC), paying subcontractors and submitting monthly returns. These various obligations can, at times, prove to be complex and time consuming with little flexibility and control.
How can our CIS Cloud help?
Inoapps’ CIS Cloud works seamlessly with Oracle ERP Cloud to support you with managing the tax requirements of using subcontractors and ensure you are always compliant with UK HMRC CIS legislation.
- Track and record all CIS specific subcontractor information
- Automatically validate your records against HMRC records
- Carry out automated revalidating of CIS contractor details
- Receive automated notifications of changes or issues
- Automatically calculate the right CIS deductions from subcontractor payments
- Generate automated payments to HMRC
- Track CIS related data against supplier records
- Automate verification of supplier UTR details against the HMRC database
- Configure payment generation to HMRC based on rules engine
- Generates a submissions report to HMRC at the end of each period which collates the individual subcontractor deductions made within that period.
- Saves time and avoid costly mistakes with automated and standardized processes
- Helps to maintain compliance with HRMC and reduce the likelihood of incurring fines
- Allows you to focus on value added tasks and running your business