Company CIS Refunds

HMRC have a new online form for companies acting as subcontractors who need to reclaim CIS tax.

A company operating as a subcontractor in the Construction Industry Scheme (CIS) can offset any CIS tax deducted from it against PAYE liabilities when submitting Employer Payment Summaries (EPS) under RTI reporting.

If the CIS deducted exceeds the PAYE, a repayment can be claimed.

The repayment used to be claimable in writing or by telephone to the Employers Helpline, but now there is an online form which can be completed after the final EPS and Full Payment Submissions (FPS) for the tax year have been filed.

The form can be accessed here, by signing in to your government gateway account.

Tribunal: Company directors don’t have to submit tax returns

HMRC guidance has historically been misleading and incorrect regarding Directors’ Tax Returns, and the result of tribunal case TC05929 confirms what many Accountants have been telling their clients for years.

Read the full article on AccountingWeb


Xero Bank Feed Status

Having trouble with your Xero bank feed ? Check the Xero page below for both direct and Yodlee feeds :

Xero Bank Feed Status


How to Check Your PAYE Code

HMRC issues some 20 million PAYE codes to employees and pensioners. The Low Incomes Tax Reform Group (LITRG) has issued a guidance note to help taxpayers to check their code is correct.

LITRG PAYE Coding Guide

Please contact us if you need more assistance!