Your help topics advise that a partnership should enter CIS deducted on invoices should be entered as owner drawings whilst CIS deducted for coporate entities should be entered as Income tax & NI: - as an LLP, would I be right in entering CIS deductions under Income Tax & NI?
regards
Howard
Hi Howard,
Yes, my understanding is that for a limited liability partnership the CIS deduction is owed to the business, not the individual partners, so the account should be 'Income Tax and NI Liability'.
Regards,