Preparations continue despite delay!

Significant changes to the CIS Tax scheme for UK subcontractors were due to be introduced in April 2006.  Following intense industry lobbying, HM Revenue & Customs have delayed the implementation of the changes until 6th April 2007. It is now the responsibility of the industry to ensure that the additional time is used wisely to plan and prepare for the introduction of the new scheme. 

As a COINS customer, you would have been in a better position to cope with these changes in April 2006 than many other businesses.  However, the delay will give you more time to plan the necessary upgrades, testing and training.

A substantial proportion of the necessary software changes have already been made within COINS.  This first phase of changes is being made available to clients for testing in the November patch releases.  COINS CIS Tax Testing seminars are going ahead as planned in November 2005.

If you do not already know who from your company is co-ordinating the preparation for these changes, then make a point of finding out now.  Do not just assume that someone else is dealing with it. The delayed introduction does not mean that it is not urgent – the earlier you start planning the better.

We have been alerting clients to the need to be prepared for these changes since April this year.  A further letter was sent to all UK clients in October, stressing the need to plan ahead and asking them to nominate a primary contact for communications from COINS on this matter.  

Further information is available from the secure client area of www.coins-global.com.