For anyone going through the current issues of HMRC putting small ltd's out of business by not refunding CIS for many months (6+) which on occassion is causing serious cashflow issues espechially when it comes to paying CT here's a handy helpsheet that the Government have produced (always better to produce a document rather than fixing the problems isn't it!).
http://www.hmrc.gov.uk/cis/cis_top_ten_tips.pdf
My understanding is that the issues are nothing to do with the contents of the note but the people at HMRC are blaming those issues on why ltd's are not being refunded.
Hope that the above helps someone gets their clients money back anyway espechially where your own incomes are dependant upon the refund.
Shaun.
p.s. I don't have any CIS cases myself. This is purely information for others.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Sounds like another case similar to those being reported on Aweb.
Did you see the thing over there where because people cannot get the money out of HMRC they cannot pay their CT so are being hit with penalties, interest and surcharges.
The cashflow issue combined with the fines is pushing some businesses over the edge.
__________________
Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Yes I read that too. BUT, it's the agents fault, assuming they have one, that they haven't done anything about it.... I phone HMRC and was with them for nearly 50 minutes explaining what was happening, talking to the VAT dep, CIS, AND CT departments and managed to get a great result!
They are going to hold the VAT open, not charge interest or any charges, and the same goes for CT... when the CIS backlog gets cleared they are more than happy to issue the money I instructed them to pay the VAT and CT before giving the money to the client. They are more than happy to do this and now my client can sleep better knowing they aren't going to be fined!
All down to the agent you see! :)
-- Edited by ClawzCTR on Tuesday 22nd of October 2013 01:37:25 PM
