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Post Info TOPIC: CIS invoice and VAT
Noola


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CIS invoice and VAT
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I have an invoice from a subcontractor and the total charge is 450.00 he has then deducted 20% tax of 90.00 then it says VAT 90.00 total charge including VAT 450.00.

Does this look right?



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Peasie


Expert

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The figures look ok to me. I would have thought he would have issued an invoice for £450 plus VAT £90 Total £540 and then the main contractor would issue the sub-contractor with a statement of tax deducted. Maybe the sub-contractor is just simplifying things for the main contractor.

Details of CIS scheme are here :
http://www.hmrc.gov.uk/forms/cis340.pdf


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BudgetB


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Most subbies show the tax deduction on their invoices so yes this is fine.

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Responses are my opinion based on the information provided.  All information should be thoroughly checked before being relied on.

 
RuthA


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I agree that's right.

It seemed easier when VAT and CIS were different rates!

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Ruth (AFA, ACIB)

Shore Accounting
www.shoreaccounting.co.uk
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