NEW CIS SCHEME CLOSES IN - THE END OF VOUCHERS
The new Construction Indusrty Scheme commences 6th April 2007.
The new scheme will no doubt cause confusion and changes with in the industry as new legislation is imposed and enforced.
Contractors and subcontracotrs alike need to be prepared with new compliance rules, new deduction rates and the focus on emplyment status being a clear motive behind some of the changes.
Contractors
Contractors have the most to prepare for under the new system as they are expected to verify the status of all subcontractors undertaking work as well as produce all documentation previously contained on CIS vouchers and End of Year Returns, under the threat of very heavy fines.
With the Inland Revenue concentrating on contractors over the last few years it is clear that the new rules will be used to enforce new structures and relationships between contractors and subcontractors.
We have full solutions that can be implemented hassle free before the new scheme starts in April 2007. Contractors should take action now, before it's too late!
Subcontractors
Subcontractors have 3 things to worry about under the new rules; revised administration and compliance, increased deduction rates and restrictions imposed by contractors revolving around the new rules.
CIS Management can ensure that you continue to trade unhindered through this time of change. Contact us now and make sure that you are fully prepared for the revised system before it even starts. Deal with it now and don't pay for it later!
MORE DETAILED DOCUMENTATION AND INFORMATION WILL BE AVAILABLE SOON FROM OUR DOCUMENT AND DOWNLOAD AREA!
