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Claudia Ives
June 4, 2021
Question

IR Off pay roll rule

  • June 4, 2021
  • 1 reply
  • 0 views

Hi

I have a longstanding client who, because of the new IR Off payroll roll, is now having to deduct tax and NI at source so that for a £1200 invoice (£1,000 + VAT) we are now being paid a total of £975.60.

Miraculously Quickbooks seems to be allowing me to 'match' this new amount of £975.60 payment with the £1200 invoice without my having to make any adjustments. (Normally if there is a discrepancy between the amount on an invoice and the related payment, Quickbooks alerts me to the 'difference', but in this case QB isn't highlighting a difference). 

Does anyone know if this is really as seamless as it seems?

ie. will Quickbooks (and hence eventually HMRC) automatically know that we have already paid tax on this invoice and adjust all relevant calcs accordingly?

(I am not financially minded so please feel free to talk in very basic terminology!!)

THANK YOU!

Claudia 

1 reply

A
Ashleigh1
June 4, 2021

Hello Claudia, Welcome to the Community page,  it is most likely it is just recording it as a partial payment with the remainder left as an outstanding amount. You can always ring the helpline on 0808 234 5337 and then set up a screenshare with the agent and they can have a look at it with you. 

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