Subcontractor CIS Tax Refund
Unlimited Taxation Support for Contractors and Sub-Contractors. We are Here To Make Your Job Simple.
Only those registered with the CIS (Construction Industry Service) system can claim for the CIS tax refunds. If you are a subcontractor supplying construction work to builders that includes works like labouring, decorating, restoring and making the site ready for construction then you are considered eligible for the CIS system and must have 20% deducted from you wages.
A self-employed subcontractor has to complete a Self-Assessment tax return. When they file this return, they have to declare all the income and expenses along with the taxes that they have had deducted from the CIS scheme. If there is any scope of refund found, then HMRC returns the amount to those who have documents ready to make the claims.
Thompson Accountancy Services offers extensive taxation and accountancy services for the convenience of its clients. The company also provides consultancy to those who are interested in understanding the complex process. If you too are seeking professional help to understand the complexities then do contact Thompson for support of all kinds.