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CIS Return

Contractors are required to report and pay across the tax deductions for any subcontractors they use in each month. This report and payment goes to HMRC each month and must be completed between the 5th and 19th of every month. Contractors must also verify any subcontractor they are going to use BEFORE they pay them to ensure they know the correct rate of tax to deduct. They are also responsible for supplying their subcontractor a ‘receipt’ or Payment and Deduction Statement each month to let them know how much has been paid to HMR on their behalf.

Sound a bit confusing? Don’t worry, we can do all of this for you each month and send you a report to let you know how much you have to pay each month. If you are a limited company, you may also be able to offset this against you PAYE payments.

 

Contact Us

07872 333945

 

karen@organisemybooks.co.uk

 

 

Karen Russell is licensed and regulated by AAT under licence number 1001545. AAT is recognised by HM Treasury to supervise compliance with the Money Laundering Regulations and Organise My Books Accounting Services is supervised by AAT in this respect.