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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 May 2024

UK economy will see slowest growth in G7 next year

The UK will see the slowest growth of the G7 nations next year, the Organisation for Economic Co-operation and Development (OECD) has warned.

02 May 2024

Optimism amongst UK business leaders in regard to the UK economy rose in April 2024, data published by the Institute of Directors (IoD) has revealed.

01 May 2024

The British Chambers of Commerce (BCC) is concerned over the impact of new customs checks and charges on small firms in the UK.