I have a customer who received a paye/ni/cis tax rebate as the cis suffered for the year was more than paye contributions. Does anyone know how I would post this in sage, if i post it to the cis tax nominal which is 2212 it will decrease the value for the current year which would be incorrect?
If your client is a limited company then you should post the rebate to the PAYE control account (or the account you use for controlling the CIS/PAYE/NIC). If it's been accounted for correctly in the year there should be a debtor balance which you can nett the receipt off against.
If your client is a sole-trader CIS subbie, then I would simply post the rebate to the capital account. Just the same as if your client was making a tax payment by posting it to drawings.
Ross
-- Edited by RossDunn on Monday 13th of December 2010 07:58:55 PM
