CIS Returns And TAX Rebates
Construction Industry Scheme (CIS) Returns
If you work in the Construction Industry you are likely due a TAX rebate from your CIS deductions. We can ensure you claim as much of your CIS deducted TAX back through your CIS Returns.
CIS TAX refunds
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CIS TAX Rebates
What costs can my CIS TAX rebate cover?
A CIS tax refund can give you money back whenever you have used your own money to do your job. Usually this is done by claiming tax relief on the money you have spent on genuine business expenses. These costs can include;
When Thomas & Bell looks into your claim, we’ll pinpoint the expenses that qualify for tax relief. That means you’ll never get caught out my a confusing rule or find yourself claiming too little or too much. Over claiming can cause some serious problems especially if HMRC investigates.
What is the cis tax deduction rate?
The standard Construction Industry Scheme (CIS) tax deduction rate is 20%. This means if you are a CIS subcontractor you could have overpaid too much tax. If you haven’t registered for the CIS scheme you could be paying as much as 30%. Therefore it’s important to register as soon as possible to minimise the tax that is being deducted.