Client and his brother formed a company a few months ago. Company is receiving income having tax deducted under CIS.
Brother and he are both CIS - am I correct in saying that the 2 directors are now PAYE so no CIS is to be deducted from payments taken from company?
So if we give a salary of the usual limit the amount received is gross with no CIS deducted. Any other withdrawals from Directors loan account are in the form of dividends?
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Echo that
You are correct.
Out of curiosity what is your training?
Given your OP, I'm a tad scared to think you're looking after a CIS registered LTD. Knowing the difference between a subbie and a director/employee is foundation stuff.