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News Release from: Scottish Building Federation | Subject: Construction Industry Scheme
Edited by the Buildingtalk Editorial
Team on 18 October 2006
Impending Construction Industry Scheme
In anticipation of the impending Construction Industry Scheme changes set for implementation in April 2007, Scottish Building hosted a series of free seminars for their members.
In anticipation of the impending Construction Industry Scheme (CIS) changes set for implementation in April 2007, Scottish Building, the principal employers' federation for the construction industry in Scotland, hosted a series of free seminars for their members within the industry, which ran from the 9th to 12th October The existing CIS sets out special rules for contractors and subcontractors in the construction industry and how they may be affected when dealing with income tax and National Insurance matters
This article was originally published on Buildingtalk on 27 Oct 2005 at 8.00am (UK)
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However, from 6th April 2007 the current scheme will be replaced by new CIS, which will remove some of the administrative burden of the current scheme and provide alternatives to the paper based processes of CIS.
Though the scheme is not changing fundamentally, the procedures and processes within it are changing significantly in hopes of drastically improving the system.
Among some of the anticipated key changes is the removal of the requirement to hold a CIS card, certificate or voucher.
Instead contractors must check or 'verify' new subcontractors with HM Revenue and Customs.
Though subcontractors will still be paid either net or gross, depending on their own circumstances, it will be HM Revenue and Customs who advises the contractor which treatment to use during verification, rather than a piece of plastic.
Coinciding with National Construction Week, the Scottish Building seminars were held in 5 separate locations including Aberdeen, Inverness, Edinburgh, Glasgow and Dundee.
In addition to highlighting the facts and figures surrounding the changes and providing advice on how to deal with the changes and meet new requirements, a simulation of how the new computerised system would function was presented followed by a question and answer period.
An informative presentation given by HM Revenue and Customs included detailed guidance for both subcontractors and contractors highlighting new elements of the CIS as well as identifying where further information could be obtained.
The Glasgow and Edinburgh seminars also featured presentations by chartered accountants French Duncan.
With over 150 attendees, Scottish Building is now starting the process of rolling out a series of further seminars to accommodate the growing demand for information on the CIS changes and cover the rest of Scotland.
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