CIS suffered - do you have CIS stopped on your income?
Do you have CIS stopped on your income? This is known as CIS suffered.
If yes and you are a limited company then you can offset it against any PAYE, NI or CIS deductions you are liable to pay to HMRC.
If your company’s PAYE bill for the period is reduced to zero and you still have some CIS suffered you have not been able to claim back, carry these forward to the next month or quarter (in the same tax year).
This allows you improve your cash flow almost immediately instead of waiting until the year end.
You can find out more information here.
If you have any questions or would like to explore this further then just get in touch.
Call: 01322 555 442