Keeping you up to date with the latest payroll news and developments with our software.
From April 2007 the new construction industry scheme rules were applied. Does your payroll support CIS?
Call us now. 0117 9353500.
For over a decade Qtac has been involved in providing complete Payroll solutions to the building and construction industry.
Old CIS Vouchers have now been replaced by the new CIS regulations (the Construction Industry Scheme) and Qtac is continuing its philosophy of keeping things simple and providing value for money to its customers with its latest version of Payroll Manager Software, HIGHLY suitable for use with the Construction Industry Scheme.
The Construction Industry Scheme module is included as standard across the Payroll Manager range of software at no additional cost to you or your business.
Try free CIS payroll software here
The new Construction Industry Scheme regulations came into force on 6th April 2007.
The use of CIS Certificates and registration cards is no longer permitted.
Any new subcontractor must be verified with HMRC by the contractor.
If a subcontractor cannot be verified against the HMRC database, an “incentive” tax rate of 30% will be payable by that subcontractor rather than the 22% standard rate if they had been verified.
HMRC will specify whether subcontractors are to be paid net or gross of tax.
The majority of construction industry subcontractors who were registered under the old Voucher scheme have now been automatically transferred to the new CIS system.
The old year end returns and vouchers were replaced by a monthly return (CIS 300). These monthly returns can be submitted on paper, by electronic submission or online.
Even if no payments have been made during a month a nil return must still be submitted. Our software can submit nil returns for you simplifying the process.
Financial Penalties will be charged for late monthly returns, this penalty will be based of the number of subcontractor returns that are late.
Significant Financial Penalties will also apply to late nil returns.
Full functionality has come as standard with all Payroll Manager and Payroll Professional packages.
QTAC Payroll Manager/Professional will connect directly to the HMRC website to verify that the subcontractors are registered on the Construction Industry Scheme.
After running the verification process the software will automatically apply the correct tax code and tax basis to the subcontractors. This means you do not need to worry about missing this important task out and finding your company being penalised by HMRC.
Our payroll software for the construction industry is EASY TO PICK UP AND USE and with quick and simple monthly submission over the internet will SAVE YOU TIME!
Discover how Qtac Payroll Product's can ease the burden that payroll brings.
Download a free trial now.
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