Pre-Submission – VAT Return Checks

Pre-Submission – VAT Return Checks

Before you file your VAT Return, you will need to review it carefully to make sure that it is correct for the period. You may be missing items which could affect your VAT return potentially underpaying or overpaying VAT. The best time to review This depends on the...
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...

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