We can provide advice and assistance on:
- Verifying new sub-contractors with HMRC
- Making the correct deduction from sub-contractor’s pay
- Paying over deductions to HMRC and submitting monthly returns
- Providing deduction statements to sub-contractors
- Keeping appropriate records
Compliance failures:
- Failure to verify correct deduction rate – underpaid tax plus penalties and interest
- Failure to submit monthly return on time – at least £100 per return per month
- Failure to provide a deduction statement – fine up to £3,000
- Missing records – fine up to £3,000
Other compliance failures leading to loss of Gross Payment Status:
- Late submission of monthly CIS return
- Late payment of CIS/PAYE
- Late payment of corporation tax
- Late submission of corporation tax return
- Late payment of directors’/proprietors’ personal income tax