CIS Automation Module

Construction Industry Scheme (CIS) Automation

Introduction

Under the Construction Industry Scheme (CIS), contractors deduct money from subcontractor’s payments and pass it to HM Revenue and Customs (HMRC). The deductions are advance payments toward the subcontractor’s tax and National Insurance. Contractors must register for the scheme. Subcontractors don’t have to register, but deductions are taken from their payments at a higher rate if they’re not registered.

The Solution

Mercurius IT has developed a module for Microsoft Dynamics NAV / Business Central that automates the accounting aspects of CIS invoices from subcontractors and the payment part. This construction industry solution manages construction subcontractors’ advance tax and National Insurance liability. In addition, it automates the registration of subcontractors’ advance tax with HMRC.

Features and Benefits

  • HMRC Ready
  • Vendor verification and Online CIS Statement Submission
  • Support for CIS Returns Processing
  • CIS Registration Validation with HMRC Portal
  • Transactional triggers for CIS Tax Accounting in the system
  • Support for Sub-Ledgers for CIS Module, Tax Withholding Overview
  • Monthly CIS Tax Return Summary Generation
  • Option for extended reporting and analytics

Technology Stack

  • Core Modules: Dynamics NAV/ Business Central Add On for CIS Functionality

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