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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4996
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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I have a limited company registered under CIS scheme, and

Resolved Question:

Hi I have a limited company registered under CIS scheme, and the cis tax is deducted from the sales invoices and subcontractors are also engaged.
For the company accounts and for the CT600 do I report sales net or gross and the subcontractors payments net or gross?
This is a very small company with very small income.
I look forward to your reply.
Submitted: 1 year ago.
Category: Tax
Expert:  taxadvisor.uk replied 1 year ago.

Thank you for your question.

You should report gross sales and gross payments to subcontractors when preparing your accounts for Companies House and CT600 return purposes.

Tax deductions would be treated separately.

I hope this is helpful and answers your question.

If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.

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Expert:  taxadvisor.uk replied 1 year ago.

I thank you for accepting my answer.

best wishes