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4 days ago · HMRC prompt correct deductions for CIS. HMRC have recently begun issuing one-to-many letters to contractors in the Construction Industry Scheme (CIS) to prompt them to ensure the status of subcontractors is correctly verified and the correct amount of tax deducted from payments made. HMRC started sending letters on 22 July 2024.
4 days ago · Select The CIS Status: Choose whether the Sub-Contractor is registered under CIS or if they have any special tax status such as gross. Calculation: Once your information is inputted. The calculator will display the amount of tax deducted and your net pay to be sent by the contractor. The tool also accommodates adjustments for various exceptions ...
4 days ago · August 8, 2024/by Muhammad Zeeshan. The Construction Industry Scheme (CIS) is a set of rules implemented by the UK government to manage tax payments in the construction sector. Designed to reduce tax evasion and ensure that the correct taxes are paid, CIS requires contractors to deduct money from subcontractor payments and pass it directly to ...
3 days ago · CIS suffered 2023-24 submission. Hello, I have to submit CIS suffered for my company for the previous 2023-24 tax year, I use payroll manager and it shows that RTI submission is due now but it always fails when actually trying to submit. Says, the date is wrong. Am I missing something or is it not able to submit CIS suffered anymore as the tax ...
1 day ago · The Apex Group was established in Bermuda in 2003 and is now one of the world's largest fund administration and middle office solutions providers. Our business is unique in its ability to reach globally, service locally and provide cross-jurisdictional services.
6 days ago · By Elgin. 07th Aug 2024 14:30. In this case it's the contractor that has told the subbie that they are VAT and CIS registered so the subbie should invoice the contractor VAT R/C. The subbie has checked the contractors VAT number but has no 'proof' of the contractors CIS status other than email confirmation.
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