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If you’re a member of the Construction Industry Scheme (CIS), then you’ll understand you have extra hoops to jump through when it comes to completing your self-assessment tax return. It can be a process that’s tough to understand and one that takes a long time to complete. Get things wrong, and you could end up facing unwanted penalties.
Perhaps your business could benefit from taking on sub-contractors, but you struggle to understand the requirements and implications of CIS.
We can get you registered for CIS initially, collate all the information for you, submit your returns on a monthly basis, and provide you with a figure for the amount you are required to pay to HMRC.
ABOUT CIS REFUNDS
The CIS tax is a special form of taxation that only applies to the construction industry. Under this scheme, contractors have to make CIS tax deductions from their sub-contractors and then give this money to HMRC.
The sub-contractor submits a CIS sub-contractor tax return upon completion of the current tax year, when the majority of their tax has already been paid. The standard tax deduction in such a case is 20%. This means that if you are a CIS sub-contractor, you may have paid too much tax, and you could be due a rebate.
If you’d like to find out more about CIS tax, you can call the HMRC CIS tax helpline on 0300 200 3210.
Or…save yourself a lot of head scratching when it comes to your CIS tax return and engage the services of Bells Accountants. Our team of tax experts will soon have your return completed. Our team has years of experience in completing CIS tax returns, and we can help you to retain as much cash as possible.
ELIGIBILITY FOR CIS TAX REFUNDS
Bells Accountants will work out whether you’re eligible for a CIS tax refund.
- We offer a free consultation, so you have nothing to lose.
- Our team of experts is always on hand to guide you through each step of the process. We’ll work out how much of a rebate you may qualify for and we’ll keep you informed on the progress of our investigation.
- We will submit the return and all the claim documentation for you.
- Once you receive your CIS tax rebate, it’s yours to keep.
You’re already working hard to maintain and build your construction business, so the fewer headaches the better. At Bells Accountants we can relieve you of the stress of completing your monthly CIS returns by taking care of them for you. This will save you time and money by ensuring that they are accurate and on time as well as avoiding costly penalties.
The HMRC takes enough of your hard-earned cash as it is, so why pay more when you don’t have to? Help with your CIS tax return and potential refund is only a quick enquiry away – you can contact your nearest Bells Accountants HERE or at .