It is now just over 5 months to go to the launch of the new Construction Industry Scheme in April 2007.

Contractors need be ready for three big changes:

• Cards and certificates are being replaced by a 'verification' service to confirm whether subcontractors should be paid gross or net.
• Instead of issuing vouchers, contractors will make monthly returns and issue pay statements.
• The monthly return will include a declaration that the contractor has considered the status of the workers on the return and that none of them is an employee.

HMRC have issued guidance at http://www.hmrc.gov.uk/new-cis/new_guidance.htm but please contact us for more in-depth advice and assistance. Employment status is crucial to get right and expert advice can save substantial amounts of tax in this area.

NEXT STEP:
Please contact us if you have any queries on this news release or ask a question.