HMRC Expense

GardenRevivers

Hello

Which type of expense would HMRC income tax and CIS deductions be?

Thanks

Bianca

Katie

Hi Bianca,

The tax payment to HMRC will be recorded as a withdrawal and the CIS deductions are recorded as an expense under the category of Subcontractor Costs.

This article explains everything you need to know about managing CIS deductions and payments in your Crunch Free account step-by-step.

All the best,
Katie

GardenRevivers

Hi Katie

As I have a direct debit with them, they take all the amount together, will I still be able to match them with the one payment if I record them separately?

Thanks

Katie

Hi Bianca,

Yes, you’ll still be able to match them. When reconciling, you can combine multiple entries in Crunch against the statement by ticking a box next to the possible matches.

Katie

GardenRevivers

Hi Katie

I knew that just wasn’t sure if withdrawals and expenses show up in the same place.

Thanks again for your help.

Bianca

Katie

Yes, as they are both outbound money, you’ll be able to combine them. 😄

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