Just a heads up to those submitting CIS suffered claims. HMRC now send you a report of CIS deducted, by Contractor and month, if they disagree with your claim.
Mine was ever so slightly out, £7500 claimed, £3100 on their system
Fortunately it wasn't me that was wrong, but the biggest contractor wasn't listed, accounting for half the income received. I'm fairly sure I know whats happened though, and will be on to the contractor first thing in the morning to verify.
Looking at the letter, HMRC say I've got to send in the statements, which is going to speed up the process, as previously you had to send them your breakdown, only then would they supply the breakdown they had.
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John
Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
Wow, HMRC being proactive! Although I've always found the CIS team way more helpful than the rest of them. Let's hope the rest of HMRC take a leaf out of their book, rather than than the CIS team following the rest of them.
I reckon there will be lots of discrepancies though and things could get tough for a lot of subbies who never get the paperwork from contractors.
Thanks for the heads up John.
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
I am so glad they've finally started to do this - it was always such a pain when they'd dispute a claim but refuse to provide a breakdown of the info they DID have, in order to work out what to send them as proof of the rest.
CIS is such a nightmare; myself and the other people who deal with it where I work constantly get the letters asking for us to provide evidence of deductions and bank statements after a claim. It's never anything we've done wrong, but very time consuming when contractors don't submit the correct figures!
