Do you have to file a cis return?

You do not have to file a return for the months when you made no payments to subcontractors, but you must tell HMRC that no return is due. Your return must not include any negative values if you’re using commercial CIS software. If any entries come to less than 0, you should put ‘0’ instead.

What happens if you miss the CIS deadline?

You’ll get a penalty if you miss the deadline for filing returns. The penalty will be cancelled if you let HMRC know that you did not pay any subcontractors that month. For returns later than this, you may be given an additional penalty of up to £3,000 or 100% of the CIS deductions on the return, whichever is higher. Pay your late filing penalty.

Can you recommend the best way to cancel CIS Contractor Registration?

A client used to use sub contractors but they have decided its more hassle than its worth so need to cancel their contractor status and I dont want to continue to file nil returns each month. Can anyone recommend the best method to cancel the registration?

What are the penalties for not using CIS?

£300 or 5% of the CIS deductions on the return, whichever is higher. For returns later than this, you may be given an additional penalty of up to £3,000 or 100% of the CIS deductions on the return, whichever is higher.

Do you have to file a cis return every month?

Subcontractors don’t have to register, but deductions are taken from their payments at a higher rate if they’re not registered. Every month contractors have to file a CIS return online and issue Deduction Statements to Subcontractors. But many people are confused as to what to put in the boxes on the return, below is the official guidance.

How to file a cis contractor tax return?

In the Accounting menu, select Reports. Under Tax, select CIS Contractor (Monthly return, Online filing and Statements). Select the period of the return you want to file. (Optional) Check the UTR (Unique Tax Reference) and SVN (Subcontractor Verification Number) details are correct.

Do you have to register as a subcontractor for CIS?

The deductions count as advance payments towards the subcontractor’s tax and National Insurance. Contractors must register for the scheme. Subcontractors don’t have to register, but deductions are taken from their payments at a higher rate if they’re not registered.

How can I claim my CIS deductions online?

You can claim a repayment of your CIS deductions if you’re a limited company subcontractor and you’ve paid too much tax or National Insurance. Claim a repayment online using the form. To claim a repayment online, you need a Government Gateway user ID and password.