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Sage 50 CIS

Sage 50 CIS. Julia Wedgwood. Agenda. Background New CIS Scheme Sage 50 Accounts and CIS What you should do to prepare How we can help Questions & Answers. CIS Scheme objectives. Reduce administration costs to the industry Improve the levels of compliance

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Sage 50 CIS

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  1. Sage 50 CIS Julia Wedgwood

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

  3. CIS Scheme objectives • Reduce administration costs to the industry • Improve the levels of compliance • Help construction businesses get the employment status of their workers right

  4. CIS Changes 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)

  5. Sage 50 CIS • Account records • Verification • Contractors monthly return • Subcontractors monthly payment statement

  6. Sage 50 CIS Demo • Setup • Activating CIS Supplier accounts • Verification • Invoice • Payments • Returns • Supplier Statement

  7. Sage 50 CIS Activation

  8. Sage 50 CIS Activation

  9. Sage 50 CIS Activation

  10. Sage 50 CIS Activation

  11. Sage 50 CIS Activation

  12. Verification

  13. Verification

  14. Monthly Return (CIS300)

  15. Monthly Return (CIS300)

  16. Invoices

  17. Payments

  18. Returns

  19. Returns

  20. Returns

  21. Returns

  22. Returns

  23. Returns

  24. Returns

  25. Returns

  26. verification 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

  27. 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)

  28. Reports • Contractors Monthly Return • Subcontractor Payments Statement Report

  29. How can we help you • Advice • Support • Training & installation

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