I bought mine from Ebay and got into quite a bidding war as they were a bargain at £40 with free P&P...but they were brand new and current.
When I sat ATT there were quite a few people with out of date yellow handbooks. In fact, I took the same books in the following year - as long as they had the bits you need in them it didn't matter. If, like most students, you have highlighted/underlined parts of them then that will make them harder to sell - if a brand new set of current books sell for £40 I'm not sure you'll get much for yours.
Hopefully someone will buy them, years of car boot sales and advertising on Gumtree have taught me that there is nearly always someone willing to pay for your old tat! It never ceases to amaze me!
Sounds all wrong to me. If they tried to verify you with HMRC they would have been told that you are not registered for CIS and that they should deduct 30% from your invoice (if it falls inside the scheme)....not 20%!!!
You say that the invoice says "Electrical work" - this often falls under the scheme (depending on the type of electrical work) so they may have got confused.
I appreciate that you consider you offer a nationwide service so your location may be irrelevant, but I would be very wary of approaching anyone when I had no clue about where they are. OK, I could look up your registered office address, but I would want a bit more detail on your website.
A colleague and I went on a great Companies House seminar last week and there are certain things that you are legally obliged to show on your website....your registered office address being one of them! The speaker told us that they frequently check that these sorts of requirements are being met and if they receive written correspondence with a website address on it they will check out the website as a matter of course. Again, it's paying attention to the small details that will help promote your business. I doubt every limited company does it right but as I go to great lengths to, I wouldn't refer work to anyone who didn't.
I don't think HMRC will take too kindly to you putting their logo on your website. Their logo is subject to copyright and you will need permission to show it - I think you can use it if you can click on it as a link to their website but not otherwise.
I have just started experiencing problems with Moneysoft and my antivirus software. I had to disable my firewall to send an FPS this month then enable it straight after. Haven't tried downloading anything yet so may find the same problem there! It just seems to happen with Moneysoft.....at the moment!
That's exactly what we do. Our accounting system automatically prints off a PDS for each subcontractor showing payments made to them in that tax month. That happens as part of the preparation for submitting the monthly return.
We deal with hundreds of subcontractors on a regular basis and have had an HMRC visit in the past to ensure we are handling them correctly. Our latest PITA is that we are being told that we should re-verify each and every subcontractor on our books once a year, in case their CIS status has changed and we haven't been notified!!
I work part-time for a large contractor and we only make the journal to deduct the CIS tax when the invoice is actually picked up for payment - we pay the tax over to HMRC when the subcontractor himself is paid (not when we post the invoice). A journal at this point will avoid any vat issues and we don't want to start paying tax over to HMRC only to then find that the invoice won't be paid for a while as it is in dispute.
Mind you, we have an accounting system that does this automatically for us, we flag the invoice when it is entered onto the system and the journal is done automatically at the start of a payment run.
My answers
Ebay
I bought mine from Ebay and got into quite a bidding war as they were a bargain at £40 with free P&P...but they were brand new and current.
When I sat ATT there were quite a few people with out of date yellow handbooks. In fact, I took the same books in the following year - as long as they had the bits you need in them it didn't matter. If, like most students, you have highlighted/underlined parts of them then that will make them harder to sell - if a brand new set of current books sell for £40 I'm not sure you'll get much for yours.
Hopefully someone will buy them, years of car boot sales and advertising on Gumtree have taught me that there is nearly always someone willing to pay for your old tat! It never ceases to amaze me!
Good luck!
Ooops
Sorry, thought the OP meant he received payment for an invoice.
p.s.
If you get no joy with the contractor, ring the CIS helpline (I ring them a lot) they are really helpful and will tell you what you need to do.
30%?
Sounds all wrong to me. If they tried to verify you with HMRC they would have been told that you are not registered for CIS and that they should deduct 30% from your invoice (if it falls inside the scheme)....not 20%!!!
You say that the invoice says "Electrical work" - this often falls under the scheme (depending on the type of electrical work) so they may have got confused.
I would ring them and try and sort it out!
CA23084
Try reading CA23084 (HMRC) Wayne....general exclusion 5 contradicts you.
This too!
A colleague and I went on a great Companies House seminar last week and there are certain things that you are legally obliged to show on your website....your registered office address being one of them! The speaker told us that they frequently check that these sorts of requirements are being met and if they receive written correspondence with a website address on it they will check out the website as a matter of course. Again, it's paying attention to the small details that will help promote your business. I doubt every limited company does it right but as I go to great lengths to, I wouldn't refer work to anyone who didn't.
HMRC logo!
I don't think HMRC will take too kindly to you putting their logo on your website. Their logo is subject to copyright and you will need permission to show it - I think you can use it if you can click on it as a link to their website but not otherwise.
Firewall?
I have just started experiencing problems with Moneysoft and my antivirus software. I had to disable my firewall to send an FPS this month then enable it straight after. Haven't tried downloading anything yet so may find the same problem there! It just seems to happen with Moneysoft.....at the moment!
Thanks OGA
That's exactly what we do. Our accounting system automatically prints off a PDS for each subcontractor showing payments made to them in that tax month. That happens as part of the preparation for submitting the monthly return.
We deal with hundreds of subcontractors on a regular basis and have had an HMRC visit in the past to ensure we are handling them correctly. Our latest PITA is that we are being told that we should re-verify each and every subcontractor on our books once a year, in case their CIS status has changed and we haven't been notified!!
A journal when invoice is paid?
I work part-time for a large contractor and we only make the journal to deduct the CIS tax when the invoice is actually picked up for payment - we pay the tax over to HMRC when the subcontractor himself is paid (not when we post the invoice). A journal at this point will avoid any vat issues and we don't want to start paying tax over to HMRC only to then find that the invoice won't be paid for a while as it is in dispute.
Mind you, we have an accounting system that does this automatically for us, we flag the invoice when it is entered onto the system and the journal is done automatically at the start of a payment run.