Building on IT
Meall, Lesley
Building on IT - 2006 - Accountancy 138(1360) December 2006, 67-68(2) .
Discusses the difficulties of complying with the new Construction Industry Scheme (CIS) without the help of specialist software. As the new CIS introduces key changes, it is unlikely that current software or systems will be able to cope. For example, the Revenue will not allow CIS returns to be done via a spreadsheet because the new CIS is accounts payable rather than payroll. Warns contractors against modifying their current IT systems to meet the changes and advises using software suppliers who have upgraded their accounting software to meet requirements (details of these can be found on the BASDA website at www.basda.org). Also highlights the lengthy task of contractors matching the data they hold on subcontractors with that held by the Revenue.
CONSTRUCTION INDUSTRY SCHEME
United Kingdom--
Building on IT - 2006 - Accountancy 138(1360) December 2006, 67-68(2) .
Discusses the difficulties of complying with the new Construction Industry Scheme (CIS) without the help of specialist software. As the new CIS introduces key changes, it is unlikely that current software or systems will be able to cope. For example, the Revenue will not allow CIS returns to be done via a spreadsheet because the new CIS is accounts payable rather than payroll. Warns contractors against modifying their current IT systems to meet the changes and advises using software suppliers who have upgraded their accounting software to meet requirements (details of these can be found on the BASDA website at www.basda.org). Also highlights the lengthy task of contractors matching the data they hold on subcontractors with that held by the Revenue.
CONSTRUCTION INDUSTRY SCHEME
United Kingdom--