The Book-keepers Forum (BKF)
The Book-keepers Forum (UK) -> VAT, Payroll & Tax -> CIS deduction statements or lack of!!
Post Info TOPIC: CIS deduction statements or lack of!!
Nimac


Senior Member

Status: Offline
Posts: 137
Date:
CIS deduction statements or lack of!!
Permalink Closed

Hello

As a sub-contractor, the company i work for has CIS deducted from payments received, as you know we should be receiving deduction statements from the main contractor indicating how much they have deducted to enable returns to be made.

Most main contractors do this without fail however some seem to have problems with it from not knowing what deduction statements are to the statements not reflecting the deductions they have made.

Now, if i know that the deduction was for CIS and a statement is not received, am i still able to claim against PAYE or do i have to wait for the statements.

Many thanks for your help.



__________________
Marky65


Guru

Status: Offline
Posts: 771
Date:
Permalink Closed

Even if I can work out what the deduction is based upon taking 20% off the labour element of an invoice my rule for clients is no statement, no reclaim. This usually encourages them to get the contractor to issue it

Whether this is correct I don't know but having spoken to HMRC about CIS this morning I know how 'strict' they are about making sure that the reclaims made by the subbie match the payments made by the contractor.




__________________

M & G Associates

Website www.mgassociates-accountancy-services.co.uk/

Accountancy Services Plymouth, Bookkeeping Payroll Sage Training

 
Nimac


Senior Member

Status: Offline
Posts: 137
Date:
Permalink Closed

I thought there may have been a loophole but i tend to agree with you, will just have to keep requesting the statements from them i suppose.

As i say 99% are fine, its just the few who seem to miss the point!!



__________________
Marky65


Guru

Status: Offline
Posts: 771
Date:
Permalink Closed

Good luck

I usually find the big contractors are fine as they are well set up for it, its the smaller ones who I have most trouble with.

__________________

M & G Associates

Website www.mgassociates-accountancy-services.co.uk/

Accountancy Services Plymouth, Bookkeeping Payroll Sage Training

 
Page 1 of 1  sorted by
 
Quick Reply

Please log in to post quick replies.
The Book-keepers Forum (UK) -> VAT, Payroll & Tax -> CIS deduction statements or lack of!!
Tweet this page Post to Digg Post to Del.icio.us
Members Login
Username 
 
Password 
    Remember Me  
©2007-2024 The Book-keepers Forum (BKF). All Rights Reserved. The Book-keepers Forum (BKF) is a trading division of Bookcert Ltd. Registered in England Company Number 05782923. 2 Laurel House, 1 Station Rd, Worle, Weston-super-Mare, North Somerset, BS22 6AR, United Kingdom. The Book-keepers Forum and BKF are trademarks of Bookcert Ltd. This forum is a discussion forum only. There will usually be more than one opinion to any question and any posting should not be viewed as a definitive solution. No responsibility for loss occasioned to any person acting or refraining from action as a result of any posting on this site is accepted by the contributors or The Book-keepers Forum. In all cases, appropriate professional advice should be sought before making a decision. We reserve the right to remove any postings which are offensive, libellous, self-promoting or engaged in covert marketing. We will not notify users of removals. The views expressed in the forum posts are those of the individual and do not necessary reflect or agree with those of The Book-keepers Forum. Any offensive or unsuitable posts will be removed by the moderators. Any reader of this forum can request for a post to be looked into by sending an email to: bookcertltd@gmail.com.

Privacy & Cookie Policy  About