For those Sub Contractors working under the CIS Constrution Industry Scheme that believe they are eligible for a tax refund we would just like to remind you that although it is now well into the current tax year but you are still allowed to make a claim for a repayment from HMRC. You will need to have the details of all of your net earnings received, materials paid for and tax stopped. This will be on the yearly statement that your Contractor is obliged to supply you with.
To maximise any potential refund you will need to make sure that you have included all of your allowable business expenses.
It may interest you to know that a recent survey we did with some of our CIS Sub Contractor clients we discovered that nearly half of them had missed out or overlooked allowable expenses that they were not claiming.
Don’t make the same mistake, call us now and we will help you.