Sage 50 CISJulia Wedgwood

• Background• New CIS Scheme• Sage 50 Accounts and CIS• What you should do to prepare• How we can help• Questions & Answers

Agenda

• Reduce administration costs to the industry• Improve the levels of compliance• Help construction businesses get the employment status of

their workers right

CIS Scheme objectives

Out go:– CIS Cards and Certificates– Vouchers– Year End Returns

Replaced by:– Unique Tax References– Verification Process– Online Submission– Monthly Returns– Two Tax Deduction Rates (Standard rate increasing from 18% to

20% on all payments on or after 6th April 2007)

CIS Changes

Sage 50 CIS

• Account records• Verification• Contractors monthly return• Subcontractors monthly payment statement

Sage 50 CIS Demo

• Setup• Activating CIS Supplier accounts• Verification• Invoice• Payments• Returns• Supplier Statement

Sage 50 CIS Activation

Sage 50 CIS Activation

Sage 50 CIS Activation

Sage 50 CIS Activation

Sage 50 CIS Activation

Verification

Verification

Monthly Return (CIS300)

Monthly Return (CIS300)

Invoices

Payments

Returns

Returns

Returns

Returns

Returns

Returns

Returns

Returns

Not required • Where paid between 6th April 2005 & 5th April 2007 and if valid

registration card/tax certificate seen

Is required • If a payment has not been made in the current or previous 2 tax

years. • If new subcontractor taken on after 6th April 2007

Accurate information will ensure successful verification

verification

Online Submissions

• Security– Password– Encrypted file with IR Mark

• Gateway availability– Availability of gateway validated, if issue, notified prior to

submission– Polling of gateway

• Messaging– Interpretation of error messages

• Integrated – Verification information updated to accounts records

• HMRC Recognition– For Verification and Returns (CIS300)

• Contractors Monthly Return• Subcontractor Payments Statement Report

Reports

• Advice• Support• Training & installation

How can we help you