CIS Tax Rebate Accountants
If you work as a subcontractor under the Construction Industry Scheme (CIS), tax may be deducted from your payments throughout the year and paid to HMRC on your behalf.
When your Self Assessment tax return is prepared, your CIS deductions are taken into account alongside your business income, allowable expenses and overall tax position. Depending on your circumstances, this may result in a tax repayment being due or additional tax to pay.
Mysimplytax provides specialist Self Assessment support for CIS subcontractors, helping you organise your income and deductions, review relevant business expenses, calculate your tax position and submit your tax return to HMRC.
With offices in Bromley and London and a fully digital service, we support CIS subcontractors locally and throughout the UK.
NO UPFRONT FEE where your fee is deducted from an eligible CIS repayment.
Our CIS Tax Return Process
We make completing your CIS Self Assessment as straightforward as possible, from gathering your income and expense information through to submitting your tax return and dealing with any repayment due from HMRC.
1
Tell us about your CIS work
We'll establish your CIS income, tax deductions and other information that needs to be included on your Self Assessment tax return and explain what records we need from you.
2
Provide your income and expense records
Send us your CIS payment and deduction information together with details and supporting records for your relevant business expenses. We'll use this information to prepare an accurate picture of your self-employed income and costs.
3
We prepare your tax return
We'll prepare your Self Assessment tax return, review your CIS deductions and relevant allowable business expenses and calculate your overall tax position.
4
Approve and submit to HMRC
We'll provide your completed tax return and calculation for you to review. Once approved, we'll submit the return electronically to HMRC and confirm whether tax is payable or a repayment is expected.
How does a CIS tax rebate work?
Under the Construction Industry Scheme, contractors normally deduct tax from payments made to registered subcontractors and pass those deductions to HMRC.
These CIS deductions are payments towards your eventual tax and National Insurance position rather than automatically being the final amount of tax you owe.
When your Self Assessment tax return is prepared, your actual taxable profit is calculated after taking account of relevant allowable business expenses. Your CIS deductions are then credited against your overall tax liability.
If the CIS tax deducted during the year is more than the amount ultimately due, you may be entitled to a repayment from HMRC. If the deductions are less than your final liability, additional tax may instead be payable.
What expenses can CIS subcontractors claim?
Self-employed CIS subcontractors may be able to deduct qualifying business expenses when calculating their taxable profits, provided the costs meet the relevant tax rules.
The expenses that can be claimed depend on your trade and circumstances, so it's important to consider what each cost relates to rather than assuming every payment is tax deductible.
Keeping appropriate records and evidence of your business costs helps support the figures included on your Self Assessment tax return.
Tools & Equipment
Qualifying tools, equipment and other costs required for your construction work may be allowable, subject to the relevant tax rules.
Travel & Vehicle Costs
Certain business travel and vehicle costs may be allowable depending on how and why the journeys are undertaken.
Work Clothing
Qualifying protective clothing and specialist workwear required for your trade may be allowable, although ordinary everyday clothing is generally treated differently.
Insurance
Relevant business insurance costs may be deductible where they relate to your self-employed trade.
Professional Costs
Certain accountancy, professional and business-related fees may qualify as allowable business expenses depending on what the cost relates to.
Other Business Costs
Additional costs incurred for your trade may be allowable where they satisfy the relevant rules for calculating your self-employed business profits.
Do I need receipts for CIS expenses?
You should keep appropriate records to support the income and expenses included in your Self Assessment tax return.
Records can include receipts, invoices, bank statements and other evidence showing what you paid and what the cost related to.
If some records are missing, speak to us before assuming an expense can or cannot be claimed. We'll explain what information is required based on the circumstances.
Straightforward CIS Tax Return Fees
Our CIS Self Assessment service provides ongoing support with your CIS income, deductions, business expenses and annual tax return, with clear pricing and no unnecessary surprises.
Fees starting from £29/month
CIS Tax Return Service
✓ Self Assessment tax return
✓ Review of CIS income and deductions
✓ Review of relevant allowable business expenses
✓ Tax and National Insurance calculation
✓ Electronic submission to HMRC
✓ CIS repayment calculation where applicable
✓ HMRC payment/repayment guidance
✓ Ongoing support
NO UPFRONT FEE where our fee is deducted from an eligible CIS repayment.
CIS accounting support throughout the year
Your accounting responsibilities don't necessarily start and finish with your annual CIS tax rebate.
As a self-employed subcontractor, keeping your business records organised throughout the year can make completing your Self Assessment easier and give you better visibility over your income, expenses and tax position.
Mysimplytax can also provide ongoing Sole Trader accounting support, including Sage accounting software, digital bookkeeping, Self Assessment and Making Tax Digital where applicable.
Making Tax Digital for
CIS subcontractors
If you're self-employed under the Construction Industry Scheme, Making Tax Digital for Income Tax may apply to you based on your qualifying gross income.
Where MTD applies, you'll need to maintain digital records using compatible software and submit quarterly updates of your self-employment income and expenses to HMRC.
Mysimplytax can provide Sage accounting software, digital bookkeeping, quarterly HMRC updates and your annual tax return as part of an ongoing Making Tax Digital service.
CIS Accountants in Bromley & London
With offices in Bromley and London and a fully digital service, Mysimplytax provides CIS Self Assessment and tax rebate support to construction subcontractors locally and throughout the UK.
CIS Tax Rebate FAQs
Need help with your CIS tax return?
Whether you need help preparing your CIS Self Assessment, reviewing your business expenses or understanding whether a tax repayment may be due, speak to Mysimplytax about how we can help.
Based in Bromley and London, supporting CIS subcontractors throughout the UK.