Trinity Contracts Limited is a well-known local carpentry company who regularly work alongside CIS subcontractors. Due to the nature of CIS subcontractors, money has to be deducted each month and passed onto HMRC. The money deducted is then put towards the subcontractor’s tax and National Insurance, which means that payments must be effectively managed.
The owner of Trinity Contracts Limited noticed that manually organising HMRC payments was taking a considerable amount of time and was hoping for a quicker, cost-effective alternative.
With the help of Digital Tax Matters, Trinity Contracts Limited set up Xero which is now responsible for filing all CIS subcontractor information. Xero stores all data on the cloud and allows all tax processes to be completed digitally, so there is no need for paperwork.
"So pleased that we now work alongside Digital Tax Matters. They automatically issue monthly certificates to all of my subcontractors; this, along with live bank feeds, has freed up my time immensely so I can concentrate on my business!"
The extra time now available has enabled Trinity Contracts Limited to grow to more than 50 subcontractors.
Increase in Projects
Thanks to the combination of streamlined processes and additional staff, Trinity Contracts Limited have taken on 65% more projects over the past year.
To date, the Trinity Contracts Limited subcontractors have completed over 1,000 projects.
As processes are now digitally automated, there is no time wasted on manually completing paperwork.