Self Assessment CIS Claims

liampaulfrench

My partner & I are both directors of our LTD Business and have been advised by our accountant to do self assessments. We went LTD in August 23 and April - August 23 I was self employed, meaning I only have to fill in a self assessment (using invoices) for those months and have a list of expenses etc. I will be claiming for. My accountant has said to make sure I 'claim CIS' and I'm not sure what that means (he's not very helpful). When you fill in a self assessment it says what you've already been taxed for and what not, is there something else I'm missing. Do self employed subcontracts still need to fill in a CIS Refund claims form or is it done automatically when I do the self assessment and is it more relevant for end of year LTD tax return?
thanks

Dazed_and_C0nfused

liampaulfrench said:

My partner & I are both directors of our LTD Business and have been advised by our accountant to do self assessments. We went LTD in August 23 and April - August 23 I was self employed, meaning I only have to fill in a self assessment (using invoices) for those months and have a list of expenses etc. I will be claiming for. My accountant has said to make sure I 'claim CIS' and I'm not sure what that means (he's not very helpful). When you fill in a self assessment it says what you've already been taxed for and what not, is there something else I'm missing. Do self employed subcontracts still need to fill in a CIS Refund claims form or is it done automatically when I do the self assessment and is it more relevant for end of year LTD tax return?
thanks

Not sure what that even is, have you invented it?

If you have been self employed then you will complete a Self Assessment return.

On the return you declare all your taxable income and can include details of any tax deducted at source.  Such as PAYE or CIS deductions.

You need to look at the self employment pages and you will see there is a box to include the CIS deductions suffered whilst you were a sole trader.

You may need to complete other sections of the return as well, possibly an employment page for employment income you received as a director.

You cannot claim CIS deductions suffered by a company on your Self Assessment return.

Given you are no doubt paying for professional advice maybe it's time to find an accountant you can work better with 🤔