CIS statement

Hi Everyone,

I created the sheet in Excel for CIS returns, you can easy track your payments and print annual Statement and Statement of deductions for each subcontractors it's very easy and simple to use and most important is FREE.

I don't mind to shared with you if you send me your email address.

I'm pleased to announce our new improved CIS statements are now live!

Shaya - if this is being reviewed can it also include the request to create nil returns as per https://secure.clearbooks.co.uk/cpjelectrics/network/ideas/view/?idea=549. This would then provide a complete CIS solution

Shaya, thank you for your comment. Current pdf statements are unfortunately nowhere near HMRC requirements of what details must be showing on CIS statements - please see the link in my post above.

The CIS statement is actually an important supporting document which a subcontractor will have to provide HMRC with to justify offsetting tax deducted against his personal tax liability (or against monthly PAYE payments if a subcontractor is a limited company).

Obviously HMRC must be able to cross check it against their records and contractors' returns so all the numbers, names, references and addresses must be showing on the statement.

One of our clients had an enquiry from HMRC where copies of CIS statements AND sales invoices AND bank statements were required to justify offseting tax deducted against monthly liabilities for the year - so it is a serious stuff - not only a time saving issue!

We are really looking forward to this addition to the CIS on ClearBooks - without this your CIS module is not really complete and we actually waste time producing monthly statements manually in the spreadsheet.

Thanks!

Hi guys - thanks to everyone who has contributed. You can obtain PDF statements by picking a submitted CIS report from Reports > CIS, then clicking on the PDF icon next to each subcontractor's name. It certainly would be time-savingto have an option to do this for every employee, and to introduce some formatting. In respect of Linda's point, the work around would be to look at the cashflow report (Reports > cashflow) to identify which invoices have been paid in a particular month, then calculate then add up the CIS on these invoices and deduct this amount from your payments to HMRC. We are closely looking into this area over the next few months.

Re Linda's comment on running annual statements rather than monthly ones - Ideally I would imagine we should be able to chose a date range and run copies of all monthly statements that had been raised to each subcontractor to date.

Re other issues I have sent you an email.

Hi
We need to produce CIS statements too. Although at the moment we tend to produce this at the end of the tax year which suits most of our subcontractors because they lose them and ask us to redo them at year end.

My main bug bear at the moment is the CIS we have suffered. When a contractor pays us and deducts CIS, I need to know the amount so that I deduct it from our monthly CIS return before I submit the balance to HMRC.
We only account for this when our invoice has been paid.
I hoped I could get this information from Reports, Customers, Payments by Customers but there is no info there.
At the moment I am going through our Bank Statements trying to extract the relevant information there.
Not exactly what I thought I would be doing with a system that is suppose to support CIS accounting.
Am I making hard work of this? If someone has come up with a workaround could you post it here.
That would be great. Thank you, and thanks to Aneta for bringing this up

This would be a great idea. Currently I have to manually create a CIS statement for each subcontractor & email it to them. If the statement can be emailed via Clearbooks once the subcontractor invoice was paid (together with their remittance advice) this would save time.

Just to follow up on the above comment - please see the link to HMRC website stating clearly what the rules are about issuing CIS statements:
http://www.hmrc.gov.uk/cis/contractors/advice-pay.htm#3

I think it is absolutely crucial for Clearbooks to add this feature to CIS module if it is to remain competitive with other softwares which generate these automatically.

Template form given by HMRC to help design the layout and info that should be included below:
http://www.hmrc.gov.uk/forms/cis-payment-deduction-statement.pdf

Thank you!

Some softwares would automatically generate CIS statements for subcontractors once the CIS return has been submitted by a contractor.
A standard looking statement would be showing both contractor's and subcontractor's CIS details as well as total payments made to a subby within a period.
If Clearbooks could implement those, that would be great. Some companies have hundreds of subbies working for them and they all have to get their statements following payment!