Accounting for CIS

Accounting for CIS

Accounting for CIS  So we understand the principles of CIS, but how do we account for the transactions in our accounting software? See An introduction to CIS if you need to recap. Account Codes We recommend that you set up the following general ledger account codes in...
An introduction to CIS

An introduction to CIS

The construction industry scheme works a little like a payroll scheme but for the constructions industry. Contractors employ subcontractors for jobs, on which they must deduct tax but not national insurance and pay it monthly to HMRC. Deductions count as advance...
Running a payroll

Running a payroll

Running a payroll This guide looks at some of the common payroll problems and choosing payroll software. Running payroll is one of the less glamorous aspects of being an employer. However, it is often the mundane tasks that are the most crucial. Failing to pay your...
Preparing for a VAT inspection

Preparing for a VAT inspection

As the financial controller or business owner, it’s likely to be your task to deal with the VAT inspector when he comes to call. So what records can he ask to see and how much power does he really have? Why are  you being inspected? VAT officers can visit your...

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