Construction Industry Accounting News

We will be releasing the Tax Year End software update within the next day or so. The latest versions will be:- CIA (Version 2.4 Build 1) and PAYE Plus (Version 2.4 Build 1). These versions of the software contain the necessary programs to enable you to finalise the Tax Year End on the Payroll and also include all the changes necessary for you to deal with Real Time Information (RTI).

The research is a result of campaign started after Meg Burgess, aged three, was killed by a falling wall in 2008, and aims to find measures to clamp down on rogue traders in the building industry.

Brian Berry, chief executive of the Federation of Master Builders said: "A compulsory scheme is the most comprehensive way of doing it.

Ensure You Are Ready..........

Before the PAYE change to Real Time Information (RTI) on 6^th April 2013, it is important that the information you hold against each of your employees within PAYE Plus is complete and accurate. In the majority of instances, the information that you already have stored will be correct, but it is your responsibility that this is so. Please take time to check each employee’s details and amend where necessary. These amendments can be done now. You do not have to wait for a PAYE Plus Update.

The Office for National Statistics revealed that Construction Industry output rose by 0.9% in the last quarter of 2012, higher than 0.3% calculated initially. This marks the first time the sector has grown since the second quarter of 2011.

The revision is good news for the wider economy as construction output is one of the measures used to work out total GDP figures. Private housing and infrastructure were the sectors that demonstrated most of the increase, while public sector housing construction and private housing repair and maintenance continued to fall.