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Post Info TOPIC: Self employed/employed!!!!
annisa


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Self employed/employed!!!!
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Hi all,

Im new to this site so please be gentle.

I have just taken on a client who is self emplyed (sole trader) but for the last 18months he has been working for someone. my client gets paid fortnightly and his boss deducts 20% for tax.

my client has given me invoices, reciepts and bank statements so what documents do i need from him or his boss to show the 20% deduction??

Having just started this is my first client so i want to make sure i get it right

please help

Anne



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Alison


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Hi Anne

When you say employed do you mean on PAYE, in which case he should have payslip showing the amount of tax and ni was deducted and net pay.

Or do you mean CIS (building type trade) where they have CIS certificates/vouchers.

Alison

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annisa


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Hi Alison

I have a meeting with him tomorrow so i will ask him if he is paye or cis and then hopefully it will all be clear he is in the building trade so i guess cis

Thanks for your help i will be back once i get the info

Anne

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Flex Accounting Services


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Hi Anne. It sounds like your client is a subcontractor and the contractor is deducting the 20% tax from his invoices which is correct.
You should get from the contractor a monthly statement showing the payments they have made to your client and how much tax he has paid over to the revenue on your clients behalf. Then at the end of the financial year when the self assessment is due, the income, expenses and tax paid over throughout the year is all included in the self assessment tax return.

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Beverley Flanagan MICB, CB Dip, PM Dip.
info@flexaccounting.co.uk
www.flexaccounting.co.uk
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