Sage CIS
Construction Industry Scheme
Sage 50 CIS works with your Sage 50 Accounts accounts software* to help you keep up to date and compliant with the new Construction Industry Scheme (CIS) legislation, and cut down the amount of time you spend managing your subcontractors' tax.
* Please note: Sage 50 CIS only works with Sage 50 Accounts 2007 and above.
Overview of CIS
From 6 April 2007, Construction Industry Scheme (CIS) legislation means that the way you manage your subcontractors' tax deductions has changed.
You will need to submit monthly information to HMRC before deducting tax from your subcontractors pay, as well as producing monthly statements for them.
To help you get to grips with these changes Sage have introduced Sage 50 CIS.
Sage 50 CIS can be added to your existing Sage 50 Accounts software to help you:
Speed things up by emailing HMRC with your subcontractor details. Reduce the risk of being fined by producing accurate calculations. Comply with legislation by producing monthly subcontractor payment statements.
HMRC have successfully tested and recognised Sage 50 CIS to both submit the Monthly Online Tax Return (CIS 300) and perform electronic verification of sub-contractor information.
CIS Features
- Record the right information and ensure you deduct the correct tax rates.
- Save time verifying new subcontractors by emailing information directly to HMRC
- Securely store your Government Gateway account and subcontractor information in one place
- Automatically produce and check monthly tax returns.
- Keep a record of all transactions and automatically capture your CIS tax details.
- Automatically produce your monthly sub-contractor payment statements.