What to include in turnover for subcontractors

[Mikejaunty]

My question is this in the income section on the self assessment when filling it in do I just enter the amount I actually received or do I include the tax already deducted at source as turnover
ie .. if my invoices add up to £20000 but I only received £16000 after deductions which one is entered??

 

[Newchodge]

20000

 

[Mikejaunty]

20000

I thought as much I've always done it this way ..but stared using QuickBooks last year to keep an eye on expenses more than anything ..but it only tracks actual money received not total invoiced for

 

[Newchodge]

Have you checked on Quickbooks for CIS payments? There ought to be a method of recording it properly. There again, Quickbooks was never designed for UK accounts.

 

[WaveJumper]

You should be able to track all your CIS payments etc on Quickbooks you just need to turn the function on. Click on the gear icon and check the settings and options available

 

[Mikejaunty]

You should be able to track all your CIS payments etc on Quickbooks you just need to turn the function on. Click on the gear icon and check the settings and options available

I've looked and can't see a function ...it is connected to my bank but only stores what was paid to me not the amount I invoiced it's not hard to work out what I've had deducted I just wondered with it being HMRC 'complient' wether or not they had changed the way it was entered
Eg £20000 invoiced for -£4000 deducted at source =£16000 income - expenses = net profit
I've always done it as £20000 income - expenses = net profit then they want to know any deductions ?

 

[WaveJumper]

Click here and see if this link is of any help

https://quickbooks.intuit.com/community/Help-Articles/CIS-in-QuickBooks/td-p/239830