The new CIS was due to be introduced in April 2006. At the eleventh hour a government announcement has confirmed a 12 month delay in its introduction. This follows pressure from the construction industry and an admission on the part of the Revenue that their systems would not be fully ready for an April 2006 start date.
The deferral whilst welcome should not be viewed as a chance to forget about the new regime altogether but rather the opportunity to put in place the necessary systems and procedures to ensure compliance with the new rules when they are introduced in April 2007.
There is no doubt that the Revenue will continue their crackdown on non-compliance in the construction industry in the meantime.
To read the parliamentary question and answer confirming the 12 month deferral go to:
parliamentary question and answer
