Sole trader subcontractor has ceased trading 31/03/2012 - more accurately, they have traded as a limited company since. There were significant trade debtors at the year-end that have been satisfied since 06/04/2012. Should the trader's SATR in these circumstances show only the deductions made in the tax year and the remainder claimed via a form CIS40? I am thinking that this (wrongly) suggests a going concern at 06/04/12. Am I over-thinking this?
Thanks in advance during these hardworking and slightly stressful times
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I would say ...
... use CIS40, it is only because CIS is reported when the payment made, not when the work is done that has caused the problem - it is a bit like reclaiming post de-registration input VAT - In my opinion!