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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.

03 Feb 2023

Bank of England raises interest rates to highest level in 14 years

Interest rates have risen to 4% ? their highest level in 14 years.

02 Feb 2023

A record 11.7 million self assessment taxpayers submitted their tax returns by the 31 January deadline, HMRC has revealed.