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Nicola-mod
Nicola-mod, Moderator
Category: Tax
Satisfied Customers: 21
Experience:  Moderator
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We have started a LTD company and have charged a certain

Customer Question

we have started a LTD company and have charged a certain amount for labour and a certain amount for materials. We are not registered for CIS - do we need to and are they going to deduct anything from the invoice for CIS? I have done some of the work along with 4/5 other people who I have already paid for the work from an invoice they have given me.
Submitted: 1 year ago.
Category: Tax
Expert:  bigduckontax replied 1 year ago.

Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to help you with your question.

You need only make deductions under CIS where the individuals who work for you have no documentation to support their entitlement to charge gross, not net of CIS. I shouid warn you to be very careful in this area as CIS was introduced to stop tax evasion and your company does not want to be involved in aiding and abetting that!

I do hope that I have been able to clear the air on this matter.

Customer: replied 1 year ago.
Hi sorry If I was not clear, I am wondering if the company that I have done the work for and just sent an invoice to are going to deduct from me of on my LTD co invoice? thanks
Expert:  bigduckontax replied 1 year ago.

Most unlikely with a limited company invoice. After all companies are subject to Corporation Tax (CT), not Income Tax (IT).

Please be so kind as to rate me before you leave the Just Answer site.

Expert:  Nicola-mod replied 1 year ago.
Hello,
It seems the professional has left this conversation. This happens occasionally, and it's usually because the professional thinks that someone else might be a better match for your question. I've been working hard to find a new professional to assist you with your question, but sometimes finding the right professional can take a little longer than expected.
I wonder whether you're OK with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.
Thank you!
Nicola
Customer: replied 1 year ago.
Please cancel this question and issue a refund