NEED HELP WITH YOUR CIS TAX RETURN?
Contact us today to start your CIS tax rebate to claim back all of your tax that you may have overpaid. With UK Tax Returns the process is simple and straight forward and we will deal with the hard work of organising your CIS statements and receipts in order to prepare you CIS tax return.
Members of our team have first hand experience in working within the Construction Industry Scheme in the past and so we understand exactly how hard you work for your money and how important your CIS tax refund is. We will work hard to ensure that you are made aware of all the allowable expenses that you can claim in order to maximise your tax refund and reduce any tax that you pay to HMRC. We will not confuse you with specialist accountancy jargon – talk to a down to earth advisor today.
Completing your self assessment tax return is an annual requirement if you work under the Construction Industry Scheme. This can often be a time consuming and confusing process if you have not done it before. At UK Tax Returns we take care of the whole process for you which means that you can relax and don’t need to waste your time with paperwork.
Our service includes basic book keeping which means that we will go through all of your income statements and receipts and look at your tax position for you entirely free of charge. Once we have added up all your income and expenses we will be able to advise you on exactly how much your tax refund will be in advance. We can then offer to submit your tax return for you securely online and send this to HMRC. If you are not due a tax refund for any reason then we will let you know in advance and explain why in plain English with no jargon.
If you are due a CIS tax refund then we will collect our fee from your refund amount so you won’t have to pay a penny up front. If you are not due a tax refund then we can still submit your tax return for you, but we will then need to invoice you in advance. The good news is that over 90% of our clients are owed a tax rebate from HMRC and so you are most likely not required to pay up front for anything.
OUR CIS TAX RETURNS SERVICES
Why may I be due a CIS tax refund?
If you work in the UK’s construction industry then you will be registered under the government’s Construction Industry Scheme, or CIS for short. Depending upon your annual wage you are likely to be overpaying tax from day one due to the complex way that HMRC collect your tax directly from your main contractor. You may have noticed that each month your main contractor keeps 20% of your wages which he sends off to HMRC every month on your behalf.
Unlike most other industries in the UK the CIS scheme does not factor in your personal allowance which is currently £11,500 that you can earn each year tax free. There are also lots of allowable business expenses that you can claim each year such as the cost of tools that will help to further reduce the amount of tax that you pay and increase your refund.
It may all sound a bit complicated but every year when we submit your CIS tax return for you we can claim back your tax free allowance for you through your CIS tax return online and make sure that you are fully refunded all of your overpaid tax.
What is CIS?
CIS stands for the Construction Industry Scheme and all tradesmen who subcontract on a construction site of any kind will most likely be registered under this scheme. This scheme is a government initiative which means that tax is collected from you monthly in advance through your wages from your main contractor. Unlike most self-employed people you will be paying tax as you go under the CIS scheme. It is the law that every CIS worker completes a UK tax return every year to declare your income and claim your expenses even if you are paying tax monthly at source.
How much will my tax refund be?
Until we have looked through your income and expense details it would be impossible to answer this question as each person’s accounts are unique. However, the average CIS tax refund is currently £1,503. The general rule is that the lower your income then the higher your refund will be. We can help you to lower your income by looking at your allowable business expenses.
How long does it take to get my tax rebate?
Once we are able to submit your tax return online then currently it’s taking an average of 7-10 working days for HMRC to repay your money, however some refunds come through in just 1 week!
When does my CIS tax return need to be done by?
The deadline for completing a UK tax return is the 31st January each year. If you a liable to complete a tax return and do not do so by this date then HMRC have very large fines that they impose so please contact us at your earliest convenience to ensure that this is done well ahead of the end of January.
The earliest that you can submit your tax return is one the first day of the new tax year which is 6th April. As soon as this date is passed we can claim your CIS tax rebate straight away.
Are you due a TAX refund?
How can UK Tax Returns help me?
We have the experience of dealing with the tax office and know all of the legally allowable expenses that you can claim in order to maximise your tax refund. We understand that you are busy working on a building site and so we remove the stress and confusion of having to deal with HMRC. Far too many CIS workers miss out on a tax refund each year just because they don’t understand the complicated process of completing a tax return. We will help you keep as much of your hard earned money as possible.
This means that more of your hard earned money stays in your pocket. Most other companies look to charge a commission, or percentage of your tax refund but we don’t. We don’t believe it's fair that you should have to pay for each extra pound that you have refunded. That's why we charge a fixed fee of £195 for each years tax return that we complete and submit on your behalf. There is no VAT to pay and absolutely no other hidden or extra charges. All of your CIS tax rebate after our fixed fee is yours to keep and enjoy.
We will work tirelessly to ensure that you claim the absolute maximum refund possible by making you aware of all the allowable expenses that you can claim. The greater the value of your refund the happier you will be, and we know that you will be glad to use our services again. This is enough for us, we’re not greedy and promise to never charge you a percentage of your refund.