Cis tax
Good evening,
one of my clients has been informed that a company that he undertook subcontract
work has gone into voluntary liquidation.
Invoices issued have been paid but there is a probability 2k of tax has not been forwarded
to HMRC;
there is a distinct probability that my client will have a large income tax bill;
any suitable advice to mitigate the losses,
best wishes,
PaulR.
one of my clients has been informed that a company that he undertook subcontract
work has gone into voluntary liquidation.
Invoices issued have been paid but there is a probability 2k of tax has not been forwarded
to HMRC;
there is a distinct probability that my client will have a large income tax bill;
any suitable advice to mitigate the losses,
best wishes,
PaulR.
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Comments
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So long as your client has received all his money, CIS tax has been correctly deducted and he has all the paperwork, then I don`t think it his problem that the money has not been forwarded on to HMRC. I cannot see that HMRC will chase your client.0
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Yes, as long as your client has CIS deduction statements from the contractor, then he should be fine. However, this type of incident, in my experience, does sometimes start an enquiry.0
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thanks0
