Construction industry scheme
HMRC has published a checklist to help companies get their construction industry scheme repayment claims right.
HMRC suggested that claiming companies use the checklist to ensure they have covered all aspects before submitting a claim. The list is:
- Ensure the company’s agent is authorised specifically to act on its behalf for CIS repayments.
- Check that the unique taxpayer reference and the company subcontractor’s name are correct on all documents.
- Check that all the company’s payment and deduction statements that HMRC have requested to process the claim are sent and for the correct period.
- If the company was incorporated during the year, ensure that its claim for repayment does not include any periods before incorporation.
- Check that the CIS deductions taken from the company’s subcontractors are correct and have been reported correctly on the monthly returns.
- Check that the company has no outstanding returns in its capacity as a contractor.
- Ensure that form P35 or the final employer payment summary under real time information has already been submitted.
- Submit any information requested within the timescale specified by HMRC and that everything requested by HMRC is included.
- Where there are overpayments that do not relate to CIS, verify how these have arisen by providing supporting documentary evidence to HMRC along with the claim for repayment.
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Where the company has ceased trading, remember to send in all outstanding returns for the subcontractors.
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Date: 3rd September, 2013 |
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