CIS Sub-Contractors
Tax Advantage offer a quick and easy way for you to have your Tax Return prepared.
Simply post to Tax Advantage details of all CIS income and tax paid plus details of any expenses you are claiming (receipts required). Your Accounts and a Tax Return will be prepared, you will be advised of any refund due or payment to be made to HMRC.
Tax Advantage Fees
For a fixed fee we will prepare your Year End Accounts and Personal Tax Return. Plus ‘free’ tax advice for 12 months.
For you convenience almost everything can be completed via email making the whole process very quick and cost effective.
* Fee will be dependent on any other income you may have for example income from property, in which case a small additional charge will be made.
Contact us now on 0844 8707 437
CIS Tax and National Insurance In most cases you will have 20% tax deducted by the contractor paying you, this is deducted from your pay after any expenses deduction shown on your pay advice. For some people they will have 30% tax deducted, this will because they have failed to register with HMRC as a Sub-contractor or they have not kept their tax affairs up to date with HMRC. To be paid 'gross' you must: Work in the constructions industry. Your work must be carried out mainly in the UK and run through a bank account. You must have a…
If you work on the Construction Industry Scheme (CIS) or subcontractors working in the building trade or a self employed tradesman such as a bricklayers, carpenters, plant operators, painter and decorators, plumbers, electricians, and fitters then you may be due a Tax Refund. CIS workers can find they are due quite large refunds brought about from any of the following factors, overpaying tax for that tax year, unclaimed travel and accommodation costs and unclaiming other work related expenses. Tax Advantage CIS Tax Return Fees: Tax Advantage offers highly competitive fixed fee service. To get your quote complete the contact form or call…
CIS Tax Returns While you work under CIS you will be required to submit Tax Returns to HMRC annually. HMRC issue the forms on the 6th April each year, you then have until the 31st October to submit a paper Tax Return to HMRC and 31st January to submit the Tax Return electronically, in both cases any tax due must be paid no later than the 31st January. CIS Tax Return Deadlines and Penalties Dont leave submitting your Tax Return to HMRC to the last minute as you will face hefty penalties. For being 1 day late a £100 penalty…
Construction Industry Scheme Registration The first thing you will need to do when you start or are due to start work under the CIS scheme is to register with HMRC as 'Self Employed'. To this you will need to complete form CWF1 which can be found below and post it to HMRC or register online. CWF1 Form Register online Once HMRC receive and process the form they will issue you with a Unique Taxpayer Reference number (UTR). This is a 10 digit number and you will need to provide this to the contractor (s) you are working for. You will…
Issues Around Being a CIS Sub-contractor The normal rules for Self Assessment and Self-employment apply to anyone working under CIS. There however some things to be aware of: Not registering with HMRC for CIS, this could result in having a tax deduction of 30% from your pay. Self-employed status, new legislation has been introduced to identify the employment status of those who work under CIS. However it is the responsibility of the person paying you to establish this. Most people working under the construction industry will use the services of an accountant. You should take care in choosing who you…
Tax Advantage offers a friendly professional service where the client comes first.