CIS Deductions

[JodieR]

Hello :001_smile:

I, like many of the MIP's on here, passed AAT before the introdution of CIS and so everything I know on about it has been from HMRC workshops and literature. There's a post at the moment on the MIP board http://www.aat.org.uk/forums/showthread.php?p=104304#post104304 regarding how CIS should be accounted for and was wondering whether anyone can offer any advice/opinions on the matter? Is it something that's covered in the AAT course nowadays?

Thanks!
jodie

[Devilishbird]

Hi Jodie,

I can confirm that when I did the taxation units in Dec 05 and the DFS, PEV and PCR exams June this year, that CIS was not covered at any point in the syllabus. I know it wouldn't be covered in the PEV or PCR but there is no "training" on CIS and the treatment of it. Would come in handy if there was though :001_smile:

[blobbyh]

It's still not covered at Technician stage though in my opinion, it probably has more to do with the payroll principles of business (i.e. PAYE) and should form part of those modules rather than other Tech units such as personal tax, DFS etc...

Like you Jodie, I've had to learn from HMRC literature and courses, a brief seminar at our external accountants offices, what I've learnt from others on here and what I've (perhaps foolishly) figured out by myself!

[JodieR]

That's crazy that it's not covered anywhere - I would imagine that any employer working in construction who employs someone who's AAT qualified would be shocked to hear that they have no knowledge on CIS! I know we all hate it but ignoring it won't make it go away (and yes, I have tried :P)

[purplegirl]

Well, I feel it is very specific to that industry and that is why it is not covered. Most construction companies want people who have CIS experience, anyway.