Ltd Company, VAT & CIS

Hi, this is my first post here and I am a new Quickfile user and new company so please bear with me!

I have read previous posts regarding CIS deductions etc and think I have got it now. I just want someone to check these calculations are correct. I tried to use print screen but it hasn’t worked for some reason so I have just copied and pasted the invoice details. Can someone confirm this is correct?

From what I can see, 20% VAT is added to the gross figure and 20% CIS is also deducted from the gross figure, hence both VAT and CIS amounts are the same? Thanks, Ben

                            **Rate (GBP)      Hours      VAT          Line Total**

Basic Rate 19.00 30.00 114.00 684.00
Overtime Rate 1 20.00 6.00 24.00 144.00
Overtime Rate 2 27.00 14.00 75.60 453.60
Lodge/Accommodation 35.55 7.00 49.77 298.62
CIS 20% Tax Deduction -263.37 1.00 0.00 -263.37

Sub Total: 1,053.48
VAT (20.00%) 263.37
Total: 1,316.85
Amount Paid: 0.00
Balance Due (GBP): 1,316.85

CIS should be on Net labour only

That is what I thought however I think the company who I am working for put it through as a labour cost. I have spoken to them and they are going to clarify it for me next week. Thanks for your help.

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