Download - Sage 50 CIS
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Sage 50 CISJulia Wedgwood
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• Background• New CIS Scheme• Sage 50 Accounts and CIS• What you should do to prepare• How we can help• Questions & Answers
Agenda
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• 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
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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
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Sage 50 CIS
• Account records• Verification• Contractors monthly return• Subcontractors monthly payment statement
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Sage 50 CIS Demo
• Setup• Activating CIS Supplier accounts• Verification• Invoice• Payments• Returns• Supplier Statement
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Sage 50 CIS Activation
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Sage 50 CIS Activation
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Sage 50 CIS Activation
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Sage 50 CIS Activation
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Sage 50 CIS Activation
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Verification
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Verification
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Monthly Return (CIS300)
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Monthly Return (CIS300)
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Invoices
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Payments
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Returns
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Returns
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Returns
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Returns
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Returns
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Returns
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Returns
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Returns
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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
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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)
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• Contractors Monthly Return• Subcontractor Payments Statement Report
Reports
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• Advice• Support• Training & installation
How can we help you