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Post Info TOPIC: Offset of CIS
Artois


Guru

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Offset of CIS
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Hi all

 

Every month for a Ltd Co I have been offsetting the CIS suffered via EPS and the normal CIS return for the subbies, this has always resulted in a larger amount suffered than having to pay, this month however the sub-contractors deductions are actually higher than the amounts of CIS suffered am I correct in thinking that the Co will not have to pay the balance for this month as the overpayments for the previous months will be taken into account?

Only ever had positive amounts offset in the past never a negative so just wanted confirmation

Cheers 



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Doug

These are only my opinions of how I see things and therefore should not be taken as advice
Leger


Master Book-keeper

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Yes, that's correct Doug.  Are you using Moneysoft?  I think that tells you the overall position if you click on the PAYE report.



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John 

 

 

 Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
Cheshire


Master Book-keeper

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Agree



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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
Artois


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Thanks John & Joanne

John, I was using 12pay but screen kept freezing on me so moved onto HMRC (I know!) as I did not have too many to submit but now things are getting busier I will be moving to Moneysoft but want to wait until April to swap over.

Cheers



__________________

Doug

These are only my opinions of how I see things and therefore should not be taken as advice
Leger


Master Book-keeper

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Posts: 3904
Date:
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Hi Doug, that makes sense.

My renewal is at the end of this month, would much prefer it to be April.



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John 

 

 

 Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
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