If you’re a UK construction contractor or an accountant with construction clients, you’ll love what we announced at Xerocon London.
You’ll no doubt know all about the Construction Industry Scheme (CIS), which mandates a set of rules for payments made by contractors and subcontractors. There are a number of tasks and calculations mandated with CIS. Those include every single invoice or bill you send, providing subcontractors with accurate statements and filing returns by the 19th of each month to HMRC.
With so much to do, keeping on top of your CIS duties could take vital time away from actually running your business.
Managing your duties just got a lot easier
At Xerocon London, we launched the open beta of the ability to file monthly CIS returns directly from Xero to HMRC. And we’ve had some great feedback from some of our early testers:
“Easy to use and very straightforward”
“It’s a really easy process, I’m very pleased with it”
“The process has made things so much easier”
“Great time saver”
“Quick and easy, simple process”
“Great progress for CIS”
We’re currently providing online filing for free as part of the open beta. Our basic CIS functionality, which already automates deductions and calculations is free with any Xero Business Edition plan. We think that using our online filing, combined with our basic CIS capabilities, will save hours each month for small businesses and their accountants.
Get started: Filing is easy
- Go to the Reports > All Reports > Tax > CIS Monthly Return and Online Filing Beta
- If you’re already using our new navigation then go to Accounting > Reports > Tax > CIS Monthly Return and Online Filing Beta
- Then take a look at this handy guide that shows you how to file your return.
Set up on CIS in Xero and start saving time
If you’re yet to enable CIS in Xero then don’t worry – it only takes a few steps.
Simply login to Xero and select Accounting > Advanced > Financial Settings. Once you’ve filled in and saved your CIS details you’ll be up and running.
With over a million businesses in construction, it’s by far Britain’s biggest industry, so we’re really pleased to have launched a game-changing feature. Look out for more construction centric features in the coming year.
Visit the Xero website for more information on our Construction Industry Scheme functionality.