CIS tax suffered by Sole Trader

CIS tax suffered by Sole Trader

Didn't find your answer?

Sorry having a mental blockage today

Going to enter on a sole traders tax return the CIS tax suffered in the year ended 5 April 2011

Is the figure to be entered

a) the CIS tax suffered on payments received in the year

or

b) the CIS suffered on "sales" made in the year (ie to include debtors?)

apologise if this seems simple, can't get my head from it today

Many thanks

Replies (3)

Please login or register to join the discussion.

Me!
By nigelburge
11th Oct 2011 11:24

the CIS tax suffered on payments received in the year ended 5/4/11.

Thanks (1)
Universe
By SteveOH
11th Oct 2011 11:28

The former

The turnover figure in the accounts will obviously include gross CIS work (plus non CIS work) taking into account debtors.

Box 80 on the Self Employed pages of the Tax Return asks for "Deductions on payment and deduction statements from contractors"; i.e. tax on the payments received in the particular tax year.

EDIT: Nigelburge beat me to it - by 2 minutes (the swine!!)

Thanks (1)
avatar
By Hanleymail
16th Oct 2011 17:48

Problem with time lag
I have a client who only worked Feb to March but didn't get paid (and CIS tax deducted) until April.
The tax bill is causing big problems.
I'm thinking of changing year end to extend to 30 April.
Any other suggestions please?

Thanks (0)