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