They took the 20% Tax out my cheque......Grrrr

[Rupe]

On one job when I was totally skint and needed full turnover of invoice, I took a risk and put 95% of the invoice through as plant (800hp bandit beast shredder) at £1500 a day and one labourer at £75 a day. To be honest I get a bit confused by the plant part under CIS as plant & operator should be deducted. But what plant does not need an operator. Any ideas Rupe??

 

I'm not sure, its getting complicted now.

 

Delivery of the plant might be non deductable. 1500 a day for delivery!!

[dumper]

the 20% deduction can be put against any paye tax paid monthly or quarterly to the revenue it is only deductable from labour elements of the bill, make sure you recive a certificate to prove that the deduction has been sent to the revenue,i look on it as a savings scheme.

[Stephen Blair]

it certainly isnt as scary as i first thought at the beginning of this thread, and the 20% of just labour is very fair, knowledge is a great thing, thanks guys i have learnt a lot tonight, it surprises me that my previous building customers never explained this to me, i wonder if most of them even knew:confused1:

[combined tree services]

i used to do alot of contracting to a compny called Fujitsu and they used the cis sytem and to be honest at first i was gutted as the extra money would have gone a long way towards kit but i realised that at the end of the tax year i had alredy paid off my tax bill and stiull had a bit to come back to me which took the worry out of paying a tax bill for sure ,

[David Riding]

the 20% of just labour is very fair,

 

some of the massive construction companies will deduct 20% regardless, as the inland revenue will have advised them to do so. CIS deduction should get passed down the sub-contractor hierarchy i.e lads working for you but try telling your local hire company that your deduction 20% off their payment of the tracked chipper you've hired

[gensetsteve]

If I have a good year and earn 100 k I owe the tax office 40k if in month eleven I drop a b*****k and lose the lot I dont owe anything its called enterprise . If you strangle it the country goes down the toilet. I dont expect to get a tax bill for £1000 cos I earnt £4000 in month one. SWB alot of what you are saying is correct I have been having problems with this cis rubbish for at least 7 years. They have never reduced my bill by 20% on the labour only they have taken it of the whole invoice including the supply of the generator. I hope this makes sense and not to aggressive I am a bit drunk

[Stephen Blair]

my life is so much better now i dont work for people who create stress in my life, yes i see trees being done that i used t work on, but the customers were always nightmares, now i am happy to let someone else get the grief and i can concentrate on my good customers and have an easy life with no hassles:thumbup1:

[gensetsteve]

my life is so much better now i dont work for people who create stress in my life, yes i see trees being done that i used t work on, but the customers were always nightmares, now i am happy to let someone else get the grief and i can concentrate on my good customers and have an easy life with no hassles:thumbup1:

 

Same here thats why as a qualified electrician and apprentice served engineer I am now cutting up timber for logs. No waiting 3 months for payment, no reams of H&S crap to wade through, no endless quotes to write, No corporates going bust on me, Very little pointless legislation to deal with, I could go on for hours but wont. We are only here for a short time enjoy what you do, money is not everything

[Stephen Blair]

i am with you there mate, easy life.