The company is approaching the end of its first trading year and the turnover is 120k - invoices are paid net of CIS deductions so the company has had 21.6k deducted throughout the year. The estimated annual proft after paying subcontractors and general admin expenses will around 60k, so the CT on that will be iro £11k. Questions:
How long will it take HMRC to refund the company the difference of approx 10k?
Where is the 10k overpayment difference shown on the balance sheet - debtors?
Does the company have to send in the CIS couchers with its CT return?
Thanks in advance - the accountant is doing his impression of the invisible man at the moment.
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