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CIS132 - Record of amounts set-off

Use

In this screen you can view the CIS 132 record of amount set-off for subcontractors. Please note the following (these guidelines are prepared based on HMRCs Construction Industry Scheme Record of amounts set-off document):

• 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.
• CIS deductions suffered in a pay period that cannot be fully set-off against payments for that period are carried forward and can be used for later pay periods within the same tax year. When the CIS deductions available for set-off in a pay period do not cover the whole of the company's payment for that period, the company must pay over the balance by the normal payment date.
• Companies need payment statements for all the CIS deductions suffered and should have received these from the paying contractor (s). But if the statements have not yet been received a company can set-off the CIS deductions against its monthly or quarterly payments.
• Companies must keep a record of the amounts set-off.
• When HMRC has received the company's P35 Employer Annual Return (with relevant CIS detail), any CIS deductions that have not been set-off during the tax year may be repaid. Or HMRC may set them against any outstanding tax, depending on the amount involved.

Path

Finance > CIS132 Payment to HMRC > CIS 132 HMRC Payment Record

Fields Available

• Tax Period: The tax period will be displayed here.
• Period Ending: The period end date for each period will be shown here.

Information from payroll records

• Net Income Tax including amounts you deducted from subcontractors from Col 3 of EPR or Payslip Booklet (Column A of the Screen): Here, the Net Income Tax including amounts you deducted from subcontractors from Col 3 of EPR or Payslip Booklet will be displayed.
• Net National Insurance contributions from Col 19 of EPR or Payslip Booklet (Column B of the Screen): The net national insurance contributions from Col 19 of EPR or Payslip Booklet will be displayed here.
• C=A+B: The column contains the sum of Column A and Column B of this screen that is, the sum of Net Income Tax including amounts you deducted from subcontractors from Col 3 of EPR or Payslip Booklet and Net National Insurance contributions from Col 19 of EPR or Payslip Booklet.

Record of CIS deductions taken from company’s income

• CIS deductions brought forward from earlier pay period (Column D of the Screen): The CIS deductions brought forward from earlier pay period will be displayed here.
• CIS deductions taken from the company in this pay period from deductions statements (Column E of the Screen): The CIS deductions taken from the company in this pay period from deductions statements will be displayed here.
• F=D+E: The column contains the sum of Column D and Column E of this screen that is, the sum of CIS deductions brought forward from earlier pay period and CIS deductions taken from the company in this pay period from deductions statements.
• CIS deductions set-off in this pay period (Column G of the Screen): The lesser amount of Column C and F is displayed here.
• Excess CIS deductions carried forward to next pay period (Column H of the Screen): Excess CIS deductions carried forward to next pay period is the difference between column F and G of this screen.

Amounts paid

• Tax figure to appear on payslip(Column I of the Screen): The Tax figure to appear on payslip is the difference between column A and G of the screen that is, the difference between Net Income Tax including amounts you deducted from subcontractors from Col 3 of EPR or Payslip Booklet and CIS deductions set-off in this pay period of this screen.
• Net National Insurance contributions figure to appear on payslip (Column J of the Screen): The Net National Insurance contributions figure to appear on payslip will be displayed here.
• Total amount paid (Column K of the Screen): The total amount paid is the sum of column I and J that is, the difference between Tax figure to appear on payslip and Net National Insurance contributions figure to appear on payslip.
• Due Date: The due date will be displayed here.
• Details: You can view the P132 details of each month by clicking on the appropriate link.
• Amount Due: The Amount due which is the total of column C of this screen will be displayed here.
• CIS deductions suffered: The CIS deductions suffered amount will be displayed here.
• Amount Due: The difference between Amount Due from "Information from payroll records" and "CIS deductions suffered" will be displayed here.

Associated Tasks

• View P132: To view the P132 details of each month, click on this link corresponding to the appropriate month.
• Back: If you have finished viewing the details and wish to leave this screen, click on this button.

Related Topics

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