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Record CIS Deductions Suffered
Use
In this screen the CIS deductions made to subcontractors by contractors can be recorded. Companies who suffer CIS deductions from their income as a subcontractor can now set these off against their monthly or quarterly payments to HM Revenue & Customs. Companies can reduce their tax/National Insurance contributions or CIS payments by the amount of CIS deductions they have suffered. Only companies are affected by this arrangement. It is not available to individual subcontractors or partnerships.
Path
Finance > Record CIS Deductions Suffered
Fields Available
- Pay Period: From the drop down list, select the pay period month that suffered the CIS deductions.
- CIS Deduction Suffered: Enter here the amount deducted as tax by the contractor.
- Action: The various tasks associated with the data in each row will be displayed here. For example Save, Edit, Delete, etc
Associated Tasks
- Edit: To make any modifications to the CIS deduction amount, click on this link corresponding to the respective pay period.
- Back: If you wish to exit this screen without saving the changes, click on this button.
- Save: If you are sure about all the entries and wish to continue, click on this button.
Related Topics
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