Tarek220371 Tarek220371

A company that is not a member of a group has £100k losses b/fwd (after 01/04/17) to offset a £50k profit YE 31/12/23. I understand that the CT600/computations must refer to the Deductions Allowance to offset this in full and avoid a potential 50% restriction even though the losses are well below the £5m Deductions Allowance. Please confirm how this should be entered on the CT600 or elsewhere or it's is just a case of adding specific wording to the tax comp. If the later please provide suitable example wording.

I have provided scaffolding erection, hire and dismantling on a subcontract basis to a local builder adding an extension to a local residential property owned by the individual third party occupier. I am VAT and CIS registered as a subcontractor and contractor. The builder provided his VAT number which I checked at www.gov.uk/check-uk-vat-number and confirmed that he was CIS registered. I have treated my sales invoice VAT as construction reverse charge i.e. no VAT charged. I do not have gross payment status for CIS but the builder has not witheld any CIS tax from their payment to me. My questions are: 1) Do I need to be checking the CIS registration of contractors that I subcontract to before applying reverse charge to and, if so, how? I verify my subcontractors with HMRC online. Should this same system be used to check contractors CIS status? 2) If a contractor has not witheld any CIS when they should have and when they have assured me that they are both VAT and CIS registered so reverse charge VAT applies, what should I do? i) Do I need to re-issue my sales invoice with VAT at 20%. ii) If not, is email confirmation of a contractors VAT number and CIS status sufficient evidence to reverse charge?