From 5th April 2007 HM Revenue and Customs are introducing a new CIS taxation scheme. The Scheme relates to the income tax on self-employed construction contractors, and will impact the whole construction industry.

Why?:

• Reduced the burden on the business.
• Increases the level of compliance with the scheme and ensures employment status is correctly applied.
• Current scheme is cumbersome, time consuming and prone to error.

The Benefits:

• The scheme will dispense with registration cards, certificates and vouchers, replaced with electronic registration
• HM Revenue and Customers call centres for sub-contractor verification and clarification
• A monthly return to the HMRC showing all sub-contractor payments
  

The Features:

This module will work with all Sage Line 50 2007 accounts variants. It delivers key business benefits - ensuring compliance with the new scheme, reducing the administrative burden, and allowing the capture of accurate information requiring to be verified to reduce the risk of paying a higher tax rate.

Record the right information:
To successfully submit your monthly returns and statements you will need to keep the right records. With Sage 50 CIS you will be able to record key information about your subcontractors, verify new subcontractor details, as well as all transactions and submissions, ensuring you pay the right amount of tax for the payments you have submitted.

Save time verifying new subcontractors:
Sage 50 CIS makes it easy for you to verify new subcontractors, simply enter their details and use Sage 50 CIS to email your details direct to HMRC.

Automate your monthly returns:
With Sage 50 CIS you can automate your monthly returns and submit them online to HMRC. The software even helps you check your details prior to submission, making sure you get it right each time.

Save time and reduce paperwork producing monthly payment statements:
Payment statements detailing the monthly payments and tax deductions for each of your subcontractors are also automated. Once you have completed your monthly return, you simply print out each of your payment statements.

Get up and running quickly and easily:
Sage 50 CIS is easy to set up, and works with Sage Line 50 2007. All of your CIS information is stored and accessed centrally within your Sage Line 50 2007 software.

Get the support you need:
Our technical team are on hand to help you get the most out of your software.