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Offsetting CIS vs corporation tax

Ok to offset all CIS deducted

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Small client company very occasionally acts as subcontractor.  Corporation tax due at end of month & in draft computation I had the CIS deducted in May 2019. Client has now had more CIS deducted at the end of 2019 - presumably that can be knocked off the amount due this month? Think that you just need to make sure that the contractor has filed returns etc, so if client has had notification then all ok.  Can someone kindly confirm, thank you.

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By Truthsayer
18th Feb 2020 10:40

You have to get HMRC to offset CIS deductions from CT liabilities by writing to them. So whether it is okay is up to them. Your question is carelessly written and so it is difficult to give more precise advice.

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By DB89
18th Feb 2020 10:40

Currently only CIS deductions up to April 2019 would be available to offset against CT.

CIS deductions for the company should be reported via payroll on the monthly EPS. At the end of each tax year you can apply to offset the CIS deductions against CT or apply for a refund.

May 19 - April 20 CIS deductions will be unavailable for offset until the end of the current tax year.

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