The Book-keepers Forum (BKF)
The Book-keepers Forum (UK) -> VAT, Payroll & Tax -> Weekly paid Ltd Co Contractors and CIS suffered - Payroll Manager
Post Info TOPIC: Weekly paid Ltd Co Contractors and CIS suffered - Payroll Manager
Jay


Senior Member

Status: Offline
Posts: 262
Date:
Weekly paid Ltd Co Contractors and CIS suffered - Payroll Manager
Permalink  

Good afternoon,

Our Ltd Company clients who have CIS deducted are monthly paid, and the neccassary deductions entered into  Payroll Manager.

However, we have two new Ltd Companies who suffer weekly CIS deductions. 

There does not seem to be an option to record the weekly CIS deductions within Payroll Manager and as such have recorded the entries on a spreadsheet and then entered the monthly totals in Payroll Manager.

Not a major problem with just two weekly CIS clients,  but wondered if this is correct. I can imagine it may be more of a problem for anyone dealing with lots of similar clients weekly.

Many thanks 

 

Jay



__________________
Leger


Master Book-keeper

Status: Offline
Posts: 3904
Date:
Permalink  

Hi Jay

I do weekly CIS on Moneysoft. If you go into the CIS tab and click on subcontractor details,

-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

then the payment tab you can set this to weekly, and then you can record weekly.  You can do weekly payslips but the CIS3000 deduction statement is a monthly one.

If you've already set it up you cant change the payment to weekly so you'll need to delete and start again.  IGNORE THAT

-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

When you set a new subcontractor up there is a drop down box that probably says monthly, just change it to weekly.  No need to delete the employer, just the subby.  May be best waiting until April though if you've already been doing it monthly.

 



-- Edited by Leger on Friday 25th of January 2019 03:56:49 PM

__________________

John 

 

 

 Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
Jay


Senior Member

Status: Offline
Posts: 262
Date:
Permalink  

Thanks for the reply.

Sorry, I may not have worded it correctly.

My new Clients are the subcontractors and currently have CIS deducted by choice which can be offset against CT.

The CIS gets listed as CIS Suffered in the Employer tab and seems to only allow for a monthly total rather than weekly.

 

BW

 

Jay



__________________
Leger


Master Book-keeper

Status: Offline
Posts: 3904
Date:
Permalink  

Jay wrote:

Thanks for the reply.

Sorry, I may not have worded it correctly.

My new Clients are the subcontractors and currently have CIS deducted by choice which can be offset against CT.

The CIS gets listed as CIS Suffered in the Employer tab and seems to only allow for a monthly total rather than weekly.

 

BW

 

Jay

 Ah Jay, sorry, yes that is only a monthly option because usually the contractor would also send out a monthly statement and deduction sheet, although I know not all do.



__________________

John 

 

 

 Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
Jay


Senior Member

Status: Offline
Posts: 262
Date:
Permalink  

Thanks for the reply at this busy time as its put my mind at rest that I've got it right. 

 

BW 

 

Jay 



__________________
Leger


Master Book-keeper

Status: Offline
Posts: 3904
Date:
Permalink  

You're welcome Jay.



__________________

John 

 

 

 Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
Page 1 of 1  sorted by
 
Quick Reply

Please log in to post quick replies.
The Book-keepers Forum (UK) -> VAT, Payroll & Tax -> Weekly paid Ltd Co Contractors and CIS suffered - Payroll Manager
Tweet this page Post to Digg Post to Del.icio.us
Members Login
Username 
 
Password 
    Remember Me  
©2007-2024 The Book-keepers Forum (BKF). All Rights Reserved. The Book-keepers Forum (BKF) is a trading division of Bookcert Ltd. Registered in England Company Number 05782923. 2 Laurel House, 1 Station Rd, Worle, Weston-super-Mare, North Somerset, BS22 6AR, United Kingdom. The Book-keepers Forum and BKF are trademarks of Bookcert Ltd. This forum is a discussion forum only. There will usually be more than one opinion to any question and any posting should not be viewed as a definitive solution. No responsibility for loss occasioned to any person acting or refraining from action as a result of any posting on this site is accepted by the contributors or The Book-keepers Forum. In all cases, appropriate professional advice should be sought before making a decision. We reserve the right to remove any postings which are offensive, libellous, self-promoting or engaged in covert marketing. We will not notify users of removals. The views expressed in the forum posts are those of the individual and do not necessary reflect or agree with those of The Book-keepers Forum. Any offensive or unsuitable posts will be removed by the moderators. Any reader of this forum can request for a post to be looked into by sending an email to: bookcertltd@gmail.com.

Privacy & Cookie Policy  About