Freelancing and contracting offer the enticing benefits of autonomy and flexible working hours, allowing you to be your own boss and manage your time efficiently. However, navigating the intricacies of HMRC’s tax obligations can be quite a daunting task for many self-employed professionals. To address this, Primo Umbrella has come up with comprehensive CIS Pay & Bill Solutions. Developed by Accentra Technologies, the platform streamlines the complexities of tax compliance while empowering freelancers and contractors to focus on their work, confident in the knowledge that their financial responsibilities are being managed efficiently.

Understanding CIS & Primo Umbrella

Before we explore how Primo Umbrella can help you fulfil your tax obligations with HM Revenue & Customs (HMRC), it may be worthwhile discussing the Construction Industry Scheme (CIS).

What is the Construction Industry Scheme?

The Construction Industry Scheme is a taxation framework designed specifically for the UK construction industry. Implemented by HMRC, CIS aims to regulate tax payments for contractors and subcontractors within the sector. Under the scheme, contractors deduct money from a subcontractor’s payments, which is then forwarded to HMRC as an advance payment towards the subcontractor’s tax and National Insurance contributions.

You will be considered a contractor under this scheme, and therefore be required to register, if you:

  • Hire subcontractors or other individuals to perform some of your work
  • Don’t run a construction company but have spent more than £3 million on construction in the 12 months since your initial payment

Primo Umbrella’s CIS Pay & Bill Services

Primo Umbrella offers a comprehensive suite of Pay & Bill Solutions for individuals covered by CIS, helping simplify and enhance the financial management of contractors and subcontractors. By helping users navigate the intricacies of CIS, the software ensures compliance with HMRC’s regulations, minimising the administrative burden for contractors and freelancers working in the construction sector. 

Primo Umbrella’s Pay & Bill Solutions encompass efficient payroll processing, tax deductions and seamless billing procedures. The software is also equipped with various features that can make a significant difference to your daily operations, including:

  • Direct banking integration
  • Multi-company processing
  • E-signature, contract issuing and tracking
  • Secure dashboard-driven back-office processing
  • Electronic verification of IDs and documents
  • Customisable onboarding process
  • Integral financial ledgers
  • CRM tools

By leveraging Primo Umbrella’s unique functionalities, individuals in the construction industry can focus on what they do best: fulfilling their contract work and providing clients with high-quality services.

Advantages of Using Primo Umbrella’s CIS Pay & Bill Solutions

Primo Umbrella’s dedication to efficiency in CIS payroll processing translates into tangible benefits for its users. If you are a contractor or freelancer working with subcontractors, there are five reasons why you should consider investing in this software.

1. Streamlined CIS payroll process

Primo Umbrella offers a streamlined and efficient payroll process, eliminating the complexities associated with managing payments in the construction industry. Through its automated Pay & Bill system, the platform ensures timely and accurate payroll processing, saving both time and effort for contractors and subcontractors.

2. Compliance with CIS regulations

With an in-depth understanding of CIS regulations, Primo Umbrella can ensure strict compliance, mitigating the risk of penalties and legal issues for freelancers. The platform’s robust framework aligns with HMRC guidelines, giving users confidence that they are meeting all the necessary regulatory requirements.

3. Tax efficiency

Primo Umbrella optimises tax efficiency for contractors and subcontractors alike. The platform employs strategic tax-planning and automatic deductions, maximising the financial benefits for its users while always adhering to the relevant tax laws and regulations.

4. Access to real-time financial data

One of the key advantages of using Primo Umbrella is that you will have access to real-time financial data. The platform offers users immediate access to their financial information, facilitating informed decision-making and enabling a proactive approach to financial management.

5. Dedicated support and customer service

Developed by Accentra, one of the UK’s most trusted providers of specialist payroll, financial and ERP software solutions, Primo Umbrella goes beyond technology by providing dedicated customer support and service. You will gain access to a knowledgeable and responsive team who can address your queries, offer guidance and assist in navigating any challenges that may arise. This personalised support enhances the overall user experience, fostering a sense of confidence and reliability in relation to the software and its features.

How to Get Started with Primo Umbrella

Primo Umbrella’s CIS Pay & Bill Solutions are certainly a game-changer, not just for umbrella companies but also for contractors and freelancers working in the construction industry. And the good news is that getting started with Primo Umbrella is quick and easy. 

If you would like to determine whether the platform would be an excellent fit for your business, please contact the team behind Primo Umbrella and request a demo. From there, you will be able to test and explore its innovative features and discover how it can make your job much easier.

Take the First Step Towards Improved Efficiency and CIS Compliance

Primo Umbrella stands as a transformative asset for contractors and freelancers in the construction industry, addressing the challenges of tax compliance with unparalleled efficiency. By helping users seamlessly navigate the intricacies of the Construction Industry Scheme, the platform’s Pay & Bill Solutions enable individuals to focus on their work, confident in the knowledge that their financial responsibilities are being handled accurately, conveniently and efficiently. 

Do you want to take Primo Umbrella for a test drive? If so, please contact us today to discover how our solutions can help elevate your business to greater heights!