CIS / RTI query

CIS / RTI query

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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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By DMGbus
17th Jun 2014 13:37

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

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Euan's picture
By Euan MacLennan
16th Jun 2014 10:28

Not a problem

DMGbus has set it out in full.

newman wrote:

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.

 

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RLI
By lionofludesch
16th Jun 2014 10:30

Guess who ?

I'm guessing Mrs Trader.

But if I should've guessed Mr Trader, there's a problem.

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