According to the CIPS construction index, in February 2012 this much maligned and embattled sector enjoyed its most productive month since March 2011, increasing from 51.4 in January 2012 to 54.3. It was doubtlessly encouraging for business owners and their management teams operating in commercial and domestic construction. Yet, whilst it marked an overwhelming step in the right direction, many construction businesses remain far from a position in which to prematurely celebrate, as the uncertain financial climate continues to fluctuate and the market remains hard to predict. Whilst there are some signs of improvement, they continue to err on the side of caution by harnessing cost effective payroll solutions.
The sheer volume of red tape involved in running construction businesses is amongst the most time consuming and complex of any sector. Business owners and their HR payroll representatives not only have to ensure their employees and sub-contractors are paid correctly and on time. They must also adhere to the legally obligatory sub-contractor verification procedures, use sector-specific CIS tax rates and submit tax returns on a monthly basis rather than annually. The expertise of outsourced payroll companies specialising in construction payrolls can help business owners to save substantial amounts of time and money which can be reinvested into the business. Business owners additionally allow themselves the opportunity to concentrate on securing and delivering new work amidst an outlook that is hopeful but not yet out of the woods.
At Moorepay, we offer professional and reliable HR payroll services that are tailor-made to the very specific needs of construction businesses. We help them to ensure their employees and sub-contractors are paid accurately, on time and in compliance with current legislation relating to the sector. We do this affordably and efficiently, allowing them to get on with the business of building brighter futures.
