Exchequer Ireland supports and delivers solutions for both Irish and Northern Irish/UK legislation and practices. One such example of our commitment to all clients is our unique and extensive RCT/CIS module which was developed as an integral and pivotal addition to our Job Costing module.
Exchequer is ideal for any organisation in the construction and allied industries that uses sub contractors and as a result are responsible to the Revenue Commissioners to deduct tax where the sub contractor doesn’t hold a C2 and a valid payments card (RCT 47). In Northern Ireland and the rest of the UK the fully integrated CIS module takes into account the latest changes.
The RCT/CIS module has four basic functions:
- To report on all payments to sub-contractors by the principal contractor over a given period of time
- To automatically withhold tax from those sub-contractors who do not hold a C2 and valid payments card (RCT 47)
- Reports on all tax deducted from payments made to sub contractors in any given month (RCT 30)
- Report on payments made to all sub contractors over the tax year (RCT 35)
“Exchequer not only helps us to comply with the
latest contractors legislation in the industry, but it also provides us with highly sophisticated reports that enable us to accurately track the financial status of any contract. This saves us up to two hours a day as we are no longer having to wade through reams of paperwork in order to get the information we require – with just a few clicks of the mouse button it is available at our fingertips.”
Liz McCartan, Financial Director at Russell Brothers Builders
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>> Download the Adston Ltd
Case Study (PDF)
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