CIS Tax Rebates
Construction Industry Scheme
If you work within the Construction Industry, the chances are you have CIS deductions from your pay. Whether you are working as a subcontractor, running your own sole trader business or a mixture of both, we can take ownership of your self assessment obligations and obtain the maximum CIS rebate, guaranteed.
NO UPFRONT FEE.
SUPER FAST PAYOUT.
Our Process.
01.
Digital Onboarding
New Client Form
Simple digital onboarding process, you complete the New Client Form, we complete all mandatory checks to bring you on as a client. No need for face to face meetings, fully remote same day service. Completion via your mobile phone or computer.
IMPORTANT: You will need a UTR (Unique Taxpayer Reference) number to complete the form.
Don't have one? Click here.
02.
HMRC Agent Approval
Assign us as Agent
We apply direct to HMRC to act as your Agent. A code is provided to you which authorises us to view your records and speak directly with HMRC on your behalf moving forward (when required).
03.
Draft Return Completion/Approval
Digital approval process
You provide us all relevant figures for your Income (Annual CIS deduction statement, Monthly payslips or 12 months bank statements), plus a simple breakdown of your Expenses. We then confirm the maximum compliant rebate available to you. If happy to proceed, simply complete our digital approval process (digital signature).
We claim ALL available allowances for ALL clients as a pre-requisite and we DO NOT need to see evidence of all Expenses.
04.
Submission
Submit through to HMRC
Once you have signed to approve your calculation, we then submit straight through to HMRC and send you full copies and HMRC receipts. Once funds arrive, we transfer straight on to you same day.
NO PAYMENT UPFRONT
We deduct our fee from your rebate once received (typically within 2 weeks of submission).
Construction Industry Scheme
What is the CIS Scheme?
Under the Construction Industry Scheme (CIS), contractors deduct money from a subcontractor’s payments and pass it to HM Revenue and Customs (HMRC). The deductions count as advance payments towards the subcontractor’s tax and National Insurance. Subcontractors do not have to register, but deductions are taken from their payments at a higher rate if they’re not registered so it is always worth registering if you haven’t already. Click here for more information.
What is a CIS Tax Return
From the 6th of April each year, you as a subcontractor under the CIS scheme, are required to complete your Self-assessment tax return. The deadline for the tax return is always the 31st of January the following year. So for example, for any work completed between 6th April 2023 and 5th April 2024, you have until the 31st January 2025 to complete your tax return otherwise you will be fined £100 by HMRC for late filing. The majority of CIS workers are due a tax rebate due to overpaid taxes throughout the year. Therefore, why wait until 31st Jan to get your rebate? Claim your CIS rebate from the 6th of April and get back what you are owed!
Do I need to complete a Tax Return?
Every self-employed worker in the UK is required to complete an annual self assessment. What's more, as a CIS Worker, you are most likely owed a considerable rebate due to overpaid advance tax payments throughout the year.
CALL now to find out exactly what you are owed.
What are the CIS Deduction rates?
When a contractor pays you under CIS, they'll normally make deductions of your pay at the standard rate of 20%.
Contractors will however make deductions at a higher rate of 30% if you are not registered with HMRC as a CIS worker.
Your contractor should give you monthly statements of payments and deductions which we will require in order to calculate your CIS tax rebate online correctly.
“Did you know, our Accountancy Fee is also placed on your tax return as an 'expense'? Let HMRC pay our fee.”
Jonathan Davis - MYSIMPLYTAX