offsetting cis tax
I am looking for some help please.
A limited company is looking to obtain CIS gross status. I am aware of the 3 tests that it has to satisfy: business/turover/compliance.
My question is this: The company has deducted tax from subcontractors and is due to pay this on its next monthly cis return, but has not got the funds to pay as yet. It has also had tax deducted by the main contractor. When the monthly cis return is filed with no payment, it will fail the compliance test. Is it possible to offset the tax it has suffered against the tax it is due to pay, and how is this done?
- Claiming annual pension allowance top up in SATR 136 2
- Leaving the VAT FRS Scheme or trying to stay as long as possible? 165 3
- Xerocon 2016 1,207 35
- Mortgage Reference 519 8
- Rounding errors on CT600 219 7
- Insovent companies 880 19
- New Build 181 1
- Entrepreneurs' Relief upon sale of a cash rich company 2,293 48
- BrightPay quirks 192 2
- HMRC now overriding SA bank repayment details on tax returns 801 20
- Website Content 145 1
- Personal Tax 623 12
- Starting band for savings - for 2014/2015 172 1
- USA Tax Query 296 2
- Website costs (intangible assets) tax relief 434 5
- last minute request 650 6
- buying asset and settling vendor's debt 346 6
- Posting invoices with balance brought forward 383 7
- Disengagement Help! 1,737 25
- Is HMRC Basic Tools basically wrong? 987 6