Services provided by contractwise.co.uk
Contract, Payroll & Audit
Contract Wise offers a comprehensive service that includes contracts, payroll, and auditing to mitigate CIS risks. Their approach ensures CIS compliance, safeguarding businesses from HMRC penalties by handling subcontractor payments and maintaining compliance with HMRC regulations. This service is designed to protect businesses from the financial risks associated with misclassification of subcontractors as employees, offering a streamlined solution for managing CIS responsibilities efficiently.
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Protecting Contractors & Subcontractors
Contract Wise provides a robust service aimed at protecting both contractors and subcontractors from the risks associated with HMRC's CIS regulations. By taking full responsibility for ensuring subcontractors remain classified as self-employed, Contract Wise shields businesses from significant financial liabilities, fines, and penalties, ensuring compliance with CIS regulations and safeguarding against reclassification risks.
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HMRC Reclassification Risk
Contract Wise offers a service focused on eliminating the risk of HMRC reclassifying subcontractors as employees. This service includes vetting and verification of subcontractors, acceptance of all commercial, legal, and tax responsibilities, and providing robust contracts, ensuring businesses are protected from the consequences of an HMRC status review.
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CIS Compliance
Contract Wise guarantees full CIS compliance, removing the burden from businesses by handling all aspects of CIS, from verifying subcontractors with HMRC to calculating and reporting CIS tax. This service ensures businesses are fully protected from HMRC fines and penalties related to CIS compliance.
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Supply Chain Due Diligence
Contract Wise provides comprehensive supply chain due diligence services, ensuring businesses remain compliant with HMRC's CIS, PAYE, and VAT regulations, as well as various legal requirements. This service is designed to keep businesses safe from penalties and to support them in fulfilling their legal obligations.
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IR35 Protection
Contract Wise offers IR35 protection services, ensuring contractors and freelancers are fully protected against the complexities of IR35 regulations. By handling status assessments and taking on legal and tax responsibilities, Contract Wise removes the risk of non-compliance with IR35, allowing businesses to engage with subcontractors securely and legally.
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Tax Returns
Contract Wise simplifies the process of self-assessment tax returns for CIS subcontractors, ensuring they are registered for self-assessment and helping them reclaim CIS tax. This service is aimed at removing the stress of tax returns, particularly with the transition to digital tax in 2024.
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