Construction Workers Tax Refunds For 2017-18 Explained | CIS Tax Refunds

from the blog.

Construction Workers Tax Refunds For 2017-18 Explained

Recruitment -Construction -Worker

Wondering if you are due a tax rebate with the construction work you’ve carried out? Whether operating as a  PAYE, self-employed or under the Construction Industry Scheme (CIS), you may be eligible for a tax refund. All you have to do is to look at work-related expenses where you can claim back tax. The operating word here is work-related or business-related, which means anything else used for personal use does not qualify for a rebate.

What Construction Workers Can Claim on Tax

  • Materials, Tools and Equipment
  • Protective clothing/uniform
  • Business travel
  • Business trip expenses
  • Internet phone and stationary
  • Membership fees
  • Motor expenses / mileage allowance
  • Home office expenses when working from home
  • Administration expenses including remuneration for a family
    member helping with administrative duties or bookkeeping

Website and advertising

Tax rebate on all these expenses are only applicable if you paid them yourself without any reimbursement, or when an employer made the reimbursement that was subsequently taxed.

How to Claim as Subcontractor under CIS

Keep a record of everything that has been claimed back against your monthly or quarterly PAYE bill. Under CIS, you are still obliged to pay taxes and National Insurance even when contractors have already made deductions throughout the tax year. The contractors will provide you with a monthly statement for all deductions and payments made to you, which you can use to claim back tax.

If you overpaid CIS deduction, HM Revenue & Customs will pay you back whatever deductions your company has yet to claim back.

In the event that you were made redundant, or your company goes into administration, you may still claim tax rebates. Seek professional advice and assistance.

Find out about our CIS Tax Refunds

Think you may be due a tax refund? Apply here to get your tax back.

Related Posts

Self-Employed Individuals Encouraged to Reach New Deadlines for Tax Returns

The COVID-19 crisis is having far-reaching financial effects on individuals and companies alike in the UK and around the world. The Low Income Tax Reform Group (LITRG) says that self-employed individuals who have yet to submit their 2018/19 self-assessment tax...

Tips for Filing Your 2020 Self-Assessment Tax Return

If you were self-employed from 6th April 2018 to 5th April 2019 and have earned more than £ 1000, then you need to file a self-assessment tax return and pay any tax that you owe before 31 January. Self-Assessment is...

Covid-19: Support for Self-Employed Launches

Covid-19 is not only a health crisis for self-employed launches but also a pressing employment crisis. The HMRC has begun to contact over 3 million taxpayers who could be qualifying for the Self-Employment Income Support Scheme (SEISS) of the government...

Leave a Reply

Translate »