CIS Vouchers

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ziggy2

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Now the tax year has finished, time to get tax sorted! Tell me do you need to get a statement from the contractor for cis tax deductions? Last year was first year I've been subbing for a while, since the new rules came in, so whats the crack, I know they don't issue vouchers but how do you prove tax stopped at source? The guy I've been working for pays into your bank and it shows on my statement as nett payment from X Builders, therefore got my proof of payment, but if not how do you show it's paid with no vouchers?
 
contractor shud give you payment record every month , shud show gross payment , tax deducted , utr number, ni number, verification number, shud ask him to back date em mate!
 
In theory yes, but if you don't get them, don't worry. The HMRC will take your word for it.
 
My accountant was asking today if I'd got a statement, told him not and that it shows nett payment on my bank statements, he seemed happy enough. Suppose I've got evidence of recieving nett pay, all tallies with my invoices.
 
ah god this is my first tax year, daunting... yes! :( think i should pull my finger out the fit blondes poop shute and crack on with it!
 
The problem arises when the contractor has paid you nett and not paid your tax, this is when you need some evidence of payment at source then the taxman will bother you no more and go after the contractor! I've seen it before with the old voucher system, vouchers issued but no payment to tax office, as long as you have your voucher you are not liable to pay the tax on those earnings.
 
I've worked for contractors that I know haven't paid over the deducted tax, as they use it as cashflow and end up in the crap. I just report them to the tax office. F*** em!
 
I asked contractor for a full print out of jobs i done and money earned. I got itemised sheet with totals for whole year, Made tax return peice of Pizz. Just worked out expences and posted it. Only took 1 hour.
 
Reckon I'm down 25-30% this year compared to 07-08 cos of the recession. I think i've had 3 or 4 days off with nothing to do, and 2 of those have been this week. This time last year I had 3 tapers and a boarder on, but now it's just little old me.
 
i normally just get my vouchers every month off the contractor then when you have a full year take them with any statements and receipts an stuff an hey presto nice rebate
 
My accountant has just told me that I am due a very nice rebate in the next few weeks so Im gonna bugger off somewhere hot and relax and buy some new fishing kit .... thinking about the Abu suveran rod with ABU 7000i reel .....mmmm

Rich
 
nice reel...got 3 abu's for carping ...best reels ive ever own...smoooth......as for accountants my retired father does them..a what a job he does...after all i have to keep him busy doing something now hes retired...just bought a new mac 17inch laptop with leftovers.......better than giving it back to Mr Brown and him giving it to some layabout
 
im new to the self emloyed game just wondered what i need to save i.e receipts ect and what can i claim for, just baught a van for £2500 will i get owt back for that.
 
If you have an accountant they should tell you , but basically what ever expences you have from the minute you walk out the door in the morning and anything else work related get a receipt even washing powder well work clothes have to be washed ;) if this is your first year trading you should get a nice rebate.
 
yes b your van is prob the biggest asset you will buy so that will be offset nicely towards your tax like church says keep absolute everything as regards to your buissness house etc its amazing what you can claim back for
 
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