Hi, i have just realised that the payments I make to inland revenue for cis deducted money is not being recorded as an expense in solar.
Should I be doing so? If so how please!
Thanks
Hi NIck,
No, CIS payments to HMRC are not really an expense - it's more like paying off a loan you incurred when you withheld the money from your supplier.
I assume that when you recorded the CIS deduction you used the 'Income Tax and NI Liability' account as shown here:
http://www.solaraccounts.co.uk/help/cis-notes-for-contractors.php
In that case, allocate to the 'Income Tax and NI Liability' account when recording the payment to HMRC.
Regards,
