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The Book-keepers Forum (UK) -> General Book-keeping & Accounting -> Double Entry for changing CIS from Standard Tax Treatment to Gross Tax Treatment
Post Info TOPIC: Double Entry for changing CIS from Standard Tax Treatment to Gross Tax Treatment
Vicki Newman


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Posts: 117
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Double Entry for changing CIS from Standard Tax Treatment to Gross Tax Treatment
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Hello!

I have a client who has been paying CIS and paying the standard 20% to which I have been debiting the Capital account with CIS suffered. He has now changed the tax treatment to gross payments, how should this be accounted? Do I just post everything to sales as if he wasn't paying CIS at all?

Thank you in advance

 

Vicki

 

 



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Vicki Newman


Senior Member

Status: Offline
Posts: 117
Date:
Permalink Closed

Hi,


I'm guessing I will need to make some kind of provision somewhere or will it just automatically be calculated when the CT return is filed?

I don't actually file the return, I just look after the books my work then gets handed over to his accountant so I would like to make sure I have this accurate.

My client has also mentioned he would like to offset the CIS and VAT against each other this is why I presume you would need an account for the CIS.

If anyone out there deals with CIS gross payments, what double entry would you use?

Sorry if I've asked a silly question, I'm not purposely trying to waste people's time and understand how busy people are this time of year.

Thank you again

Vicki

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