CIS Tax Rebates
What is the Construction Industry Scheme (CIS)?
We offer a comprehensive CIS tax rebate service that includes the completion of your Self Assessment tax return, the production of your accounts and tax enquiry insurance to cover any costs associated with a HM Revenue & Customs (HMRC) enquiry.
We’re here to make your life easy as your go-to tax experts especially for construction workers. As part of the service we offer:
As part of the service we offer:
- Free Tax planning
- Free and unlimited all year round Tax advice
- Free rebate estimate
- The ability to utilise all of your business expenses
- Construction Industry Scheme (CIS) refunds of on average £2,300 per year
- Submission of problem cases including those with multiple years outstanding
- CIS express service (refunds turned around on the same day)
Frequently Asked Questions
If you’re self-employed and work in the construction industry or on site as a builder, groundworker, plumber or heating engineer for example, you’d fall under the Construction Industry Scheme (CIS). Construction workers who are subcontracted by contractors will have CIS deductions taken towards tax and national insurance, which are then passed through to HM Revenue and Custom (HMRC). These tax deductions can then be calculated at the end of the tax year in your Self Assessment tax return, allowing you to claim a CIS tax rebate 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 (CIS) is designed for self-employed people working in construction. CIS work according to HM Revenue and Customs (HMRC) includes work undertaken to to either 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
- Any dismantling or demolition works required
Claiming your CIS tax rebate is far easier than you might think. At the end of each tax year, you need to submit a Self Assessment tax return to HM Revenue & Customs (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 which, in most cases, will entitle you to a CIS tax refund.
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 Self Assessment tax return right away and in many cases, can submit on the same day!
No. All of our charges for helping you with your CIS tax refund are automatically deducted from your tax rebate figure, so you won’t need to find a penny in advance (so long as your rebate sufficiently covers our fee).
Yes, our sister company IN-SYNC Credit Services may be able to pay your CIS tax rebate 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 work expenses. The average tax rebate for our customers is £2,300. In some cases our customers can receive several years of overpaid rebates — 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 you contribute is typically 20%, but will be determined by HMRC when the contractor you work for verifies your Unique Tax Reference Number (UTR).
Your CIS tax rebate calculation starts by looking at your total taxable income for the year and deducting any allowable business expenses (Not sure what’s an allowable business expense? Read our guide.
When you know exactly how much profit you’ve earned for the tax year, you can then work out how much CIS deductions have been made. Remember, you will take into account your tax-free earnings and any tax and national insurance contributions too.
Finally, once you know your income, profit, tax and national insurance contributions, you’ll take the difference between the CIS contributions you’ve made and the actual figure you’re required to pay. This will show you whether you’re entitled to a rebate or an additional bill from HM Revenue and Customs (HMRC).
No, if you pay PAYE tax as an employee of a company, you won’t be eligible.
Call us today on 01252 704 030 for a free estimation.