Has anybody noticed that EPS detailing CIS deductions is now rejected if not filed by the 19th of the month. Does this mean that the taxes deducted up to the 5th of the month will now be vigorously collected even though they are aware of the CIS tax deducted from the client? I'm getting a complex
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Not the only one!
This seems to have been introduced at 6 March 2015, presumably to tie in with the penalties applying to everyone.
It seems a bit ridiculous given that contractors have until 19th to distribute the deduction statements. So if subcontractors don't receive it until the due date that is a pretty short turnaround to get it to their payroll provider in time to file the EPS!
That's not to mention the numerous contractors who don't even send it out by the 19th. Its not exactly easy for clients to make a fuss about it either as they want to get future work from their contractors!
So presumably lots of EPS's will end up being filed with the previous month's CIS deductions included. Plus loads of letters to HMRC after the tax year end for any CIS details received after the 19th.
Happy days.