CIS refund in London and Kent
We offer a professional and competitive CIS return and CIS refund service for builders. Whether you are contractor or subcontractor working in Construction Industry, we will prepare your CIS returns and accounts in a timely and efficient way.
- records of your sales and purchases
- CIS certificates
- CIS returns
- bank transactions or other relevant documents
We offer a professional and competitive CIS return and CIS refund service for builders in Bromley, London, Kent and nationwide. We will charge a little more, if we need to carry out your bookkeeping, to prepare your accounts or if you have other sources of income. Tax planning is included in the CIS refund service at no extra cost. We will help you claim all the available tax reliefs and to pay the minimum amount of tax required by law. We can advise you in all areas of taxation, such as Income tax, CIS, Inheritance tax, Property income, National Insurance, and many more.
Contractors must submit online monthly returns to HMRC confirming the following:
- that the verification process has been correctly dealt with
- that the employment status of subcontractors has been considered
- payment details made to all subcontractors and
- any details of tax deductions made from those payments
The contractor has to contact HMRC to find if he should pay a subcontractor gross or net. You would normally verify only the new subcontractors. This verification procedure will establish which of the following payment options apply:
- gross payment (no deductions made)
- a standard rate deduction of 20%
- a deduction made at the higher rate of 30%, if the subcontractor has not registered for CIS with HMRC. Or cannot provide accurate details to the contractor and HMRC cannot verify them.
CIS Refund for builders
The self employed construction workers working under the Construction Industry Scheme (CIS), often overpay tax and are due a CIS refund.
When you work in construction you usually have 20% tax deducted from your wages. This does not take into the account your personal allowance and business expenses. So, you will need to submit a tax return, calculate your correct tax bill and claim back your overpaid tax.
Unlike many other accountants, we don’t charge a fixed percentage of your CIS refund. But we charge a fixed fee to submit your tax return and claim your CIS refund. So, you know exactly what you are going to pay us in advance for your CIS return. You can either pay our fee in advance, or if you wish can have it deducted from your CIS refund.