A trader had some CIS tax deducted from his fees invoices in 2013/14; a relief for CIS tax will be claimed on a tax return. He also had one employee (guess who?) and RTI filing was done re this, but CIS deductions were overlooked. Is that a problem?
Views / advice much appreciated.
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Ltd Co -or- Not Ltd Co?
The query does not state if it is a Ltd Co in question here.
The claim for CIS tax deductions deducted from income differs between Ltd Companies and other entities:
Ltd Co : Claim CIS deductions off income against in tax year PAYE/NIC/CIS liabilities via RTI / EPS filing
Sole trader / partners : Claim CIS deductions off income on the annual self assessment tax return as a credit against SA tax liabilities
Not a problem
DMGbus has set it out in full.
A trader had some CIS tax deducted from his fees invoices in 2013/14; a relief for CIS tax will be claimed on a tax return.
Assuming that this is a sole trader claiming relief for the CIS tax on his SA income tax return, he should not have claimed a deduction for the CIS suffered against his PAYE liabilities via an EPS under RTI.
Guess who ?
I'm guessing Mrs Trader.
But if I should've guessed Mr Trader, there's a problem.