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Hi Jennifer
I haven't got a spreadsheet - but my words of wisdom would be this.........
It's hard to get your head around it when you first start with CIS - although, from your wording, you seem to have a good grip already - but one thing to keep in mind is that when your client is working as a sub-contractor himself, he will have tax withheld from his customer invoices that he issues. This withheld payment is an 'asset' to the company, which with a sole trader, would be reclaimed via the self assessment route. With a limited company, it can be offset against PAYE payments. It is often called CIS Suffered and you should receive a payment slip / statement from the Contractor that proves the amount that has been withheld - this is your clients proof, but is often not provided without asking.
When your client is working as a Contractor - i.e. has sub contractors working for him, he will have to deduct tax from their supplier invoice on the labour part of the payment. It is important for the sub contractors to itemise their labour, materials and travel expense individually on their supplier bills, so that this can be calculated correctly. This deduction is a liability, which has to be forwarded to HMRC. You are also obliged to issue a payslip / statement of deduction to the supplier/sub contractor. You can make one up on Word / Excel etc, or HMRC offer a basic one, or programs such as Moneysoft create them for you if you run payroll.
The CIS deductions from sub contractors (normally recorded when your client pays the bill rather than the date of the bill) have to be filed to HMRC in the same way as PAYE - i.e. after 5th of the month, but before 22nd if filed electronically. You will need to register as their client for CIS, or get them a login for CIS within their PAYE login.
Hope that helps
Carol
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