Hi,
Does anyone know where I can find out to account for subcontractors that are signed up as part of the CIS scheme?
CIS Details
"The scheme sets out the rules for how payments to subcontractors for construction work must be handled by contractors in the construction industry and certain other businesses. Under
the scheme, all payments made from contractors to subcontractors must take account of the subcontractor’s tax status as determined by HM Revenue & Customs. This may require the contractor to
make a deduction, which they then pay to us, from that part of the payment that does not represent the cost of materials incurred by the subcontractor."
Can anyone help at all? e.g. the process, the flow, the transaction etc in Sap Bydesign