G Woodland & Sons ltd
Construction Industry Accounts Software
G Woodland & Sons ltd
From October 2011, the penalties for late or non-filing of a CIS contractor's monthly return within the Construction Industry Scheme are changing. Under the new regime contractors filing their CIS returns late will be liable to pay:
Form P35 for the year 2010-2011 is due for completion on or before 19 May 2011. If the return is submitted late you may receive a penalty. Although it is not a legal requirement to submit Construction Industry Scheme (CIS) monthly returns online, in all but a very few exceptional circumstances it is mandatory to file the form P35 electronically. Failure to do so may also incur a penalty.
To help you complete the contractor’s part of the form P35 correctly, listed below are a few dos and don’ts
The Federation of Master Builders (FMB) has called on the government to provide additional investment and lending for CIS contractors and other companies in the UK construction sector.
HMRC has issued a reminder that penalties for late or non-filing of monthly Construction Industry Scheme (CIS) returns by contractors are changing from November 2011.
Under CIS, contractors are obliged to file a monthly return and account for any sums deducted from subcontractors.
The new penalty regime comes out of the Finance Act 2009. The first CIS return affected by the changes will be for the month ending on 5 November 2011.
From November 2011, the following penalties will apply to returns that are not filed, or are filed late:
As a contractor you have certain obligations under the CIS scheme, including registering with the scheme, checking whether your subcontractors are registered with HMRC, paying subcontractors and submitting monthly returns.
Our Construction Industry Accounts CIS software received official HMRC approval for the CIS Scheme and deals with all aspects of the subcontractors accounts including:
Verification? Statements? EDI? HMRC monthly Returns?
Let CIA help you take the time and effort out of the CIS scheme.
Years of experience gives you peace of mind.
Construction Industry Accounts (CIA) software has been designed and developed specifically for the Construction Industry and is fully compliant with the CIS scheme. Users of CIA have no concerns over the CIS changes as they know they will be getting a free upgrade that deals with all aspects of the new scheme.
Construction accounts software needs to cover the unique requirements of PAYE, CIS, Jobcosting and Retention.
PAYE Plus is a simple to use yet comprehensive payroll package, meeting the HMRC's requirements for PAYE.
The main advantage PAYE Plus gives over other payroll packages is its integrated job costing, allowing you to book costs to the appropriate jobs (including the Employers National Insurance).