Prepare for April CIS changes with new software
New software has been launched by payroll experts Qtac to help companies comply with the new Construction Industry Scheme (CIS) that comes into force in April.
Under the new scheme, already delayed by a year because nobody was ready for it in 2006, firms will have to make monthly returns stating which sub-contractors worked for them. Even if you don\'t employ any you will have to make a return saying you have not employed any.
The point as far as HM Revenues & Customs (HMRC) are concerned is to collect income tax and national insurance contributions due that are currently avoided or evaded at a cost to the government coffers of many millions of pounds.
Qtac say their CIS software gives small and medium-sized businesses the ability to fulfil their mandatory obligations to HMRC quickly and efficiently in order to avoid costly penalties.
It is included as an add-on with the existing Qtac packages Payroll Professional and Payroll Manager, both of which can be downloaded from the Qtac website. Demonstration versions are free. The cost of licences for versions you can use vary depending on the number of employees, but start at £105 a year.