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New Construction Industry Scheme - Last Update sent to contractors before the scheme starts
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HMRC has sent the fourth and final issue of New CIS Update to all registered contractors. It reviews all of the actions that must be taken around the start of the scheme and includes a timetable covering March, April and May 2007.
With reference to penalties for late filing of the new monthly returns, it confirms that HMRC will not issue penalties in the first six months of the scheme. The first automatic late-filing penalties will be issued starting with the October 2007 returns.
...UK Payroll News - Latest
Further information:
New CIS Update March 2007
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