CIS tax deductions

Labour Charge (£):

The cost of all labour charged (net of travel and subsistence and any VAT charged by the sub contractor).

Materials Charge (£):

The cost of all materials supplied (Include VAT if the sub contractor is not VAT registered).

Payment under deduction:

Is the subcontractor verified with HMRC for payment under deduction?

Note: These calculations are only for illustrative purposes and are not a substitute for professional advice.

HMRC urges self assessment taxpayers to spread the cost

HMRC is reminding people who pay tax by self assessment of the opportunity to spread the cost of their bill with the Time to Pay facility.

11 Dec 2024

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