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Specialist advice and guidance built around supporting professional subcontractors
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Self Assessments | CIS tax refunds | VAT management | Advances
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Self Assessments | CIS tax refunds | VAT management | Advances
Specialist advice and guidance built around supporting professional subcontractors
Calculate out how much you could be entitled to in minutes with help from our team of in-house experts
More than a million construction workers in the UK are paid through the Construction Industry Scheme (CIS).
You'd be amazed at how many of those people don't know how to manage their finances to maximise the money they take home.
That's where we come in.
"IN-SYNC gave me the support to deal with CIS and my expenses so I can concentrate on my work"
If you're self-employed and work in construction, we can help you claim an average tax refund of £2,700.
We’re here to make your life as easy as possible. If you work under the Construction Industry Scheme (CIS), then we can help you submit your tax return and reclaim the money you're entitled to.
Better still, you can combine our tax and VAT management into a simple and affordable pay monthly subscription.
Estimate your CIS tax refund - We’re here to make your life easy as your go-to tax experts, particularly if you work for yourself and are paid under the Construction Industry Scheme (CIS).
If you’re self-employed and work in the construction industry or on-site as a plumber or heating engineer for example, you’d fall under the CIS. Construction workers who are subcontracted by contractors will have CIS deductions taken towards tax and national insurance, which are then passed through to HMRC. These Tax deductions can then be calculated at the end of the Tax year in your Self Assessment, allowing you to claim a CIS Tax refund on any CIS deductions you’ve overpaid. It can sound daunting, but having the support of experienced Tax experts makes the experience a doddle.
The Construction Industry Scheme is designed for self-employed people working in construction. CIS work according to HMRC includes work undertaken to permanent or temporary building structures, or civil engineering work like roads and bridges for example. Construction work, as far as CIS is concerned at least, includes: 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 and any dismantling or demolition works required.
Claiming your CIS Tax refund is far easier than you might think. At the end of each Tax year, you need to submit a Tax return to HMRC. From this process you’ll know exactly what Tax and National Insurance you owe which is offset against any tax deductions you’ve already paid. In most cases, this will entitle you to a tax refund, if you're under the CIS. If you’d like 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 tax return right away and in many cases, can submit on the same day
No. All of our charges for completing your CIS tax return are automatically deducted from your Tax refund figure, so you won’t need to find a penny in advance (so long as your refund sufficiently covers our fee).
Yes, our sister company IN-SYNC Factoring may be able to pay your CIS Tax refund into your bank account as soon as we have your expenses and income information – Perfect if you need a little bit of extra cash for a rainy day.
The refund you may get back depends on three things: Your CIS deductions, total earnings and business expenses.
The average Tax refund for our customers is £2,300.
In some cases you can receive several years of overpaid refunds — if you’re eligible, CIS Tax can even be claimed back for the previous four years.
As a CIS worker, you’ll be required to make contributions for Tax and National Insurance each month.
The amount of tax you pay is typically 20%, but will be determined by HMRC when the contractor you work for verifies your UTR number.
Your refund is calculated starts by looking at your total income for the year and deducting any allowable business expenses.
When you know exactly how much profit you’ve earned for the tax year, you can then work out how much of it you have already paid.
Remember, you'll take into account your tax-free earnings and any National Insurance contributions too.
Finally, once you know your income, profit, tax and national insurance contributions, you’ll take the difference between the tax you've already paid and the actual figure you’re required to pay.
This will show you whether you’re entitled to a refund, or subject to a liability.
No, if you pay PAYE Tax as an employee of a company, you won’t be eligible as you will already pay the correct Tax according to your Tax code.
CIS registered operatives will pay a 20% Tax rate.