What jobs does the Construction Industry Scheme include?
The Construction Industry Scheme (CIS) is designed for self-employed people working in construction. CIS work according to HM Revenue and Customs (HMRC) includes most work on a permanent or temporary building/structure and civil engineering works like roads and bridges.
The CIS scheme covers all construction work in the UK, including jobs such as:
- Site preparation and the provision of access works or laying foundations
- Building work, alterations, repairs and decoration
- The installation of heating, lighting, power, water and ventilation
- Subsequent cleaning of site following completion of construction work
- Any dismantling or demolition works required
CIS subcontractors have to submit annual tax returns
As a self-employed CIS subcontractors you have to submit an annual tax returns. You are legally obliged to submit your tax return by 31st Jan and HMRC imposes fines and other penalties to subcontractors who fail to submit an annual tax return, file their return late or complete their return incorrectly. Due to the nature of the CIS system most returns result in a tax refund!
How do I claim a CIS tax refund?
To claim your CIS tax refund you need to submit a Self Assessment tax return to HM Revenue & Customs (HMRC). For this you will need proof of all your earning and expenses for that tax period. From this process you should then be able to calculate the correct amount of tax and national insurance you should have paid after all deductions, which in most cases will entitle you to a CIS tax refund. To maximise your refund and avoid penalties in is important that you file the correct expenses.
If youd like a tax experts to take care of this for you, contact us and one of our dedicated consultants will talk you through every step over the phone. We’ll then start preparing your Self Assessment tax return correctly and ensure that we maximise your tax refund.
Do I need to pay upfront to get my CIS tax rebate?
No, our low-fixed charges for helping you with your CIS tax refund can be automatically deducted from your tax refund amount. Contact us now and we can start your claim straight away!