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05/01/2022

CIS Tax Rebates In The Construction Industry - Best Choice Accountancy Ltd

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CIS Tax Rebates in the construction industry are normally due for a variety of reasons.

Please email Best Choice Consultancy or call us on 020 8557 5781 if you belong to one of the following groups:

You are self-employed and have had tax deducted at source by the Contractor usually at 20% under CIS

Whilst CIS Tax is deducted from your income, income tax is paid on your net profit i.e. after all expenses have been deducted from your sales. If your expenses are substantial then the tax deducted at source is likely to be much more than the tax due on your profits and you are entitled to a tax rebate.

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If you have a limited company involved in construction work, chances are your limited company is due a CIS tax rebate. This can be substantial and if your company does not engage sub-contractors, the tax deducted under the CIS will be refunded in full. If the company engages sub-contractors then the tax rebate will be reduced by the amount of tax deducted from sub-contractors. As Specialist Contractors Accountants we have made many successful claims on behalf of both old and new clients.

You are employed on PAYE.

Construction workers on PAYE can also claim for their travel expenses if they do not have a permanent place of employment. The claim is based on business mileage when you drive your own vehicle, on the cost of public transport and other business expenses you may incur on behalf of your employer.

Expenses effectively reduce your salary and therefore the tax you paid on PAYE is too much and you are due a tax rebate. The rules can be complex, but we can help you to ensure that a) you qualify and b) you get the highest rebate, we have been successful in hundreds of cases.

A tax rebate is not a present. You have worked for it and it is your money. However, you must claim it, HMRC will not refund it automatically.

Please call us on 020 8857 5781 or email us to info@bestchoiceaccountancy.co.uk

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