CONSTRUCTION CIS CLAIMS can be worth thousands of pounds in tax refunds
Construction Industry Scheme (CIS) relates to most general contractors working in the UK building trade including groundworkers, joiners builders and plumbers.
There are two key aspects to a successful CIS claim; expenses allowable to be set off against the income you earn and the amount of tax deducted from your payments from main contractors. When taken together and properly claimed, refunds and savings can run into thousands of pounds.
There is actually no requirement for a contractor to register under CIS however it makes sense to do so as if you don’t, the main contractors who you work for will deduct tax from you at a higher rate.
A CIS tax refund puts money back in the bank that you’ve previously spent to do your job. Eligible costs include:
- Travel costs, using your own vehicle or through the use of public transport
- The cost of Accommodation if you need to stay overnight while travelling
- Meals while you’re working or on the road
- Parking fees and tolls you have to pay yourself
- Upkeep and replacement
Information you need for a CIS tax refund
There’s not a lot of information or paperwork needed to make your claim for a CIS tax rebate.
You’ll need a record of your work expenses and costs, including things like the sites you’ve worked at, the miles you’ve travelled and any tools or equipment you’ve had to buy. If you don’t have all the information to hand, just let us know, it’s likely we can help.
You’ll also need your CIS statements from the main contractor.