Self assessment cis query

[Kev1]

Hi

I wonder if anyone could clarify the income on subcontractors - when a subcontractor has a statement shown labour £200, materials £80 tax deducted 20% on labour £40 - total payment paid £240. My question is when declaring income on the self assessment is it the gross labour value of £200 only,do you declare the £80 materials as income or not? Is the materials put against expenses. Any help would be much appreciated.

keV

 

[talkinpeace]

Turnover 280
Include the receipt for the materials in your expenses to bring the gross profit down to the labour only
and put the CIS from the deduction certs into the right box on the SE pages

 

[Kev1]

Thanks very much for your help.

keV