Payment Deduction Statement Form PDF Details

Understanding the nuances of financial documentation in the construction industry is paramount, especially when it involves the intricate matters of tax deductions and contractor payments. The Payment Deduction Statement form serves as a critical document within the Construction Industry Scheme (CIS), detailing the financial transactions between contractors and subcontractors. It captures various essential details such as the contractor's name and address, the payment period, the gross amount paid excluding VAT, the cost of materials, and uniquely, the amount liable to deductions alongside the actual deductions made. The form also includes spaces for unique identifiers like the Employer’s Tax Reference and the subcontractor's Unique Taxpayer Reference (UTR) as well as the Verification Number for cases where a higher rate deduction is mandated. It is designed to ensure transparency in the deduction of taxes right at the source of the payment, and it embodies the meticulous compliance culture promoted within the sector. Subcontractors are advised to keep this document safe, as it serves not just as a receipt of payment but as a crucial record for taxation purposes. The Payment Deduction Statement is not only a testament to the structured financial engagements within the construction industry but also a tool for facilitating smoother tax compliance and verification processes.

QuestionAnswer
Form NamePayment Deduction Statement Form
Form Length1 pages
Fillable?No
Fillable fields0
Avg. time to fill out15 sec
Other namessubcontractor payment certificate template excel, cis payment and deduction statement, cis statement template excel, construction industry scheme payment and deduction statement

Form Preview Example

Construction Industry Scheme

Payment and deduction statement

Contractor details

 

Contractor’s name

 

 

 

 

 

 

 

 

 

Payment and deduction made in tax month ended

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

05 MM YYYY

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Contractor’s address

 

 

 

 

 

 

 

 

 

Employer’s Tax Reference

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Subcontractor details

 

 

 

 

 

 

 

 

Gross amount paid (Excl VAT) (A)

 

 

 

 

 

 

 

Subcontractor’s full name

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

£

 

 

 

 

 

 

 

 

 

0

0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less cost of materials

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unique Taxpayer reference (UTR)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

£

 

 

 

 

 

 

 

 

 

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Amount liable to deduction

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Verification Number*

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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V

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amount deducted (B)

 

 

 

 

 

 

 

 

* Verification number only to be entered where a deduction

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

£

 

 

 

 

 

 

 

 

 

0

0

 

 

 

 

 

at the higher rate has been made.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amount payable (A-B)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Subcontractors - Please keep this document safe

CISOL1_v0_06

HMRC 09/08

How to Edit Payment Deduction Statement Form Online for Free

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1. It is important to fill out the cis template word properly, therefore be attentive while filling in the sections including these particular fields:

Filling in segment 1 in cis voucher template

2. The third stage is usually to complete the next few blanks: Unique Taxpayer reference UTR, Verification Number, Verification number only to be, at the higher rate has been made, Less cost of materials, Amount liable to deduction, Amount deducted B, and Amount payable AB.

Amount deducted B, Verification number only to be, and Amount liable to deduction inside cis voucher template

Always be extremely careful when filling out Amount deducted B and Verification number only to be, as this is the section where most users make some mistakes.

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