Forum Message

LLP's

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


Posted by Howard Howlett on Nov 1, 2011 4:38 PM GMT

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,


Posted by Mark McLaren (Solar Accounts) on Nov 2, 2011 8:20 AM GMT