You can claim a CIS Tax Refund if, for the last four years, you have worked at 2 or more construction sites for the same company, and/or used public transport or your own vehicle to get to work.
What is a CIS refund?
CIS = Construction Industry Scheme The Construction Industry Scheme (CIS) is a tax scheme where contractors deduct money from a subcontractor’s payments and pass it straight to HMRC. Subcontractors are usually due a tax refund and can also claim back expenses.
How do I claim back my CIS tax?
If you pay CIS deductions, you must claim these back through your company’s monthly payroll scheme. Do not try to claim back through your Corporation Tax return – you may get a penalty if you do. Send your monthly Full Payment Submission (FPS) as usual to HMRC. Also send an Employer Payment Summary (EPS).
How do I complete a cis tax return?
Completing your tax return can be a lengthy and tiresome process. That’s why the team at Brian Alfred are here to take the pressure away with our tax rebate service. We can complete your return and submit all of the information to HMRC on your behalf, giving you more time to focus on your work.
How long does it take HMRC to process a cis refund?
How long does a CIS refund take? If you are a sole trader and you are eligible for a CIS tax rebate, in general, your tax rebate should be processed by HMRC in between 1 to 8 weeks. Typically, we see our clients being paid their CIS tax rebates within 10 days of submitting their Self Assessment Tax Return.
How to file a cis return for a subcontractor?
If you haven’t made any payment to subcontractors this month, click “Nil return”. If you have made payment to subcontractors this month, click “CIS returns product” (in the right option) or “File monthly return” (in the left menu). Choose Month and Year for which you are doing a return.
How is VAT included in a cis return?
Where the subcontractor is registered for VAT, any VAT they had to pay on materials should be excluded in the cost of materials when calculating the CIS deduction. For the total cost of £600 a subcontractor, who is a taxable person for VAT purposes, agrees to paint the interior of a building and to supply the materials.
