My-CIS http://www.my-cis.co.uk Just another WordPress weblog Wed, 25 Aug 2010 10:21:07 +0000 en hourly 1 http://wordpress.org/?v=3.0.1 How and when do I get paid through My-CIS? http://www.my-cis.co.uk/cis-insurance/how-and-when-do-i-get-paid-through-my-cis/ http://www.my-cis.co.uk/cis-insurance/how-and-when-do-i-get-paid-through-my-cis/#comments Wed, 16 Dec 2009 17:36:20 +0000 admin http://www.my-cis.co.uk/?p=87 How and when do I get paid through My-CIS?
Provided your pay data and monies are received from the agency for the previous weeks work before 1pm on the following Wednesday, we will process payments on the same day and your weeks pay will be in your bank account on the Friday. It is possible to make a special payment on Friday if for some reason the agency misses the Wednesday deadline but there is a charge for this service

]]> http://www.my-cis.co.uk/cis-insurance/how-and-when-do-i-get-paid-through-my-cis/feed/ 1 Must I register for the CIS scheme myself or can My-CIS do it? http://www.my-cis.co.uk/faqs/must-i-register-for-the-cis-scheme-myself-or-can-my-cis-do-it/ http://www.my-cis.co.uk/faqs/must-i-register-for-the-cis-scheme-myself-or-can-my-cis-do-it/#comments Wed, 16 Dec 2009 17:34:21 +0000 admin http://www.my-cis.co.uk/?p=85 Must I register for the CIS scheme myself or can My-CIS do it?

You must register for CIS personally, as soon as you decide to become Self Employed you need to contact the CIS helpline on 0845 366 7899 between 8.00am and 8.00pm and register with them. To complete this process you will need to provide them with your Unique Tax Reference and National Insurance Number.

Visit our Downloads section to view more indepth information on how to apply for your UTR number

]]> http://www.my-cis.co.uk/faqs/must-i-register-for-the-cis-scheme-myself-or-can-my-cis-do-it/feed/ 2 Does My-CIS pay my National Insurance with a CIS? http://www.my-cis.co.uk/faqs/does-my-cis-pay-my-national-insurance-with-a-cis/ http://www.my-cis.co.uk/faqs/does-my-cis-pay-my-national-insurance-with-a-cis/#comments Wed, 16 Dec 2009 17:33:22 +0000 admin http://www.my-cis.co.uk/?p=83 Does My-CIS pay my National Insurance with a CIS?
No, when you register with HMRC as self employed, they will ask you to pay your National Insurance contribution direct to them by direct debit.

]]> http://www.my-cis.co.uk/faqs/does-my-cis-pay-my-national-insurance-with-a-cis/feed/ 1 What do you mean by verification? http://www.my-cis.co.uk/faqs/what-do-you-mean-by-verification/ http://www.my-cis.co.uk/faqs/what-do-you-mean-by-verification/#comments Wed, 16 Dec 2009 17:32:41 +0000 admin http://www.my-cis.co.uk/?p=81 What do you mean by verification?
It is a legal requirement that all CIS contractors must be verified with the HMRC.
When you register as self-employed the HMRC will issue you with a Unique Tax Reference Number (UTR). This can take up to four weeks but once you have your UTR and National Insurance Number (NINO) you can then register for the CIS scheme over the phone on 0845 366 7899.

]]> http://www.my-cis.co.uk/faqs/what-do-you-mean-by-verification/feed/ 1 How will my tax deductions be calculated? http://www.my-cis.co.uk/faqs/how-will-my-tax-deductions-be-calculated/ http://www.my-cis.co.uk/faqs/how-will-my-tax-deductions-be-calculated/#comments Wed, 16 Dec 2009 17:31:47 +0000 admin http://www.my-cis.co.uk/?p=78 How will my tax deductions be calculated?
The deductions are specified by HMRC who will give you a tax status when you register for the CIS scheme. My-CIS will verify your status with HMRC and will apply the specified deductions at the rate they have set.
In order for us to correctly make these deductions, it is important that we receive certain information on your registration forms, specifically you Unique Tax Reference and National Insurance number which we can use to verify you CIS status. If this information is missing and we cannot verify your status we are forced to make deductions at the higher rate of 30%. This should be avoided as any overpayments cannot be recovered until the end of the tax year as part of your self assessment. The current rates of Deduction are as follows:
• 30% for an unverified or higher rate contractor
• 20 % for a standard rate contractor
• 0% for a gross rate contractor

]]> http://www.my-cis.co.uk/faqs/how-will-my-tax-deductions-be-calculated/feed/ 4 What happens if I move on to PAYE? http://www.my-cis.co.uk/faqs/what-happens-if-i-move-on-to-paye/ http://www.my-cis.co.uk/faqs/what-happens-if-i-move-on-to-paye/#comments Wed, 16 Dec 2009 17:29:58 +0000 admin http://www.my-cis.co.uk/?p=76 What happens if I move on to PAYE?
In this instance, if your employment status changes, you can very easily be transferred to My-Umbrella (our umbrella service) at no cost. You would need to fill in a simple application form to get started. This option continues to allow you to maximise your pay each week.

]]> http://www.my-cis.co.uk/faqs/what-happens-if-i-move-on-to-paye/feed/ 4 Am I entitled to holiday pay with a CIS? http://www.my-cis.co.uk/faqs/am-i-entitled-to-holiday-pay-with-a-cis/ http://www.my-cis.co.uk/faqs/am-i-entitled-to-holiday-pay-with-a-cis/#comments Wed, 16 Dec 2009 17:29:17 +0000 admin http://www.my-cis.co.uk/?p=74 Am I entitled to holiday pay with a CIS?
No, as you are a self employed person you will not receive holiday pay as an employee would.

]]> http://www.my-cis.co.uk/faqs/am-i-entitled-to-holiday-pay-with-a-cis/feed/ 6 How does My-CIS receive my wages? http://www.my-cis.co.uk/faqs/how-does-my-cis-receive-my-wages/ http://www.my-cis.co.uk/faqs/how-does-my-cis-receive-my-wages/#comments Wed, 16 Dec 2009 17:28:35 +0000 admin http://www.my-cis.co.uk/?p=72 How does My-CIS receive my wages?
By signing our registration document you give authorisation for My-CIS to invoice your agency and receive funds, on your behalf, for your wages. The amount you are paid will be determined by the data sent from your client to your agency.

]]> http://www.my-cis.co.uk/faqs/how-does-my-cis-receive-my-wages/feed/ 3 What insurance cover do I have with My-CIS? http://www.my-cis.co.uk/faqs/what-insurance-cover-do-i-have-with-my-cis/ http://www.my-cis.co.uk/faqs/what-insurance-cover-do-i-have-with-my-cis/#comments Wed, 16 Dec 2009 17:27:50 +0000 admin http://www.my-cis.co.uk/?p=70 What insurance cover do I have with My-CIS?
Most importantly you will need to have Employers Liability and Public Liability insurance which is a legal requirement. My-CIS will provide these insurances free of charge. It is imperative that you have these insurances unless you already have adequate cover in place which you will need to show. We also provide an option at a low cost to take out Professional Indemnity Insurance (PII) & Personal Accident Cover, if required, through My-CIS.

]]> http://www.my-cis.co.uk/faqs/what-insurance-cover-do-i-have-with-my-cis/feed/ 2 What should I do to become registered with My-CIS? http://www.my-cis.co.uk/faqs/what-should-i-do-to-become-registered-with-my-cis/ http://www.my-cis.co.uk/faqs/what-should-i-do-to-become-registered-with-my-cis/#comments Wed, 16 Dec 2009 17:26:01 +0000 admin http://www.my-cis.co.uk/?p=66 What should I do to become registered with My-CIS?
You will need complete an application to register for the CIS scheme via HMRC. Once this is established, you will become eligible to register with My-CIS. You can then complete our registration form or telephone us in order to register you and we will forward you our required documents to complete the process. These documents must be completed and returned to My-CIS before any payments are processed, our customer service team will assist with any questions that you may have.

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