Those subcontracted in construction under CIS are often due annual Tax rebates. This is mainly because too much Tax has been deducted from the sub-contractors payments. Over the course of the year, the Tax deductions can add up and the Tax overpayments can go into the thousands. Your Tax overpayment is reclaimed through your CIS Tax return.
How Do I Get Started With My CIS Tax Return?
In order to get you a maximum tax rebate in the fastest possible time you will need to gather as muvh of the following information as possible:
- Copies of CIS Tax statements (sometimes called CIS vouchers or even pay slips)
- Details of the sites or places where you have worked
- Copies of MOT certificates showing your mileage
- Copy invoices or receipts for expenses
- Invoices or receipts for tools and equipment
- In some cases, copies of your bank statements
The more information we have, the better it is for yourself. Don’t worry, however, we will run you through what can be claimed, and what can’t.
What Can I Claim Tax Back On?
You can claim tax back on most work-related expenses. Below is a list of items that you can request a tax rebate on:
• Vehicles for work use
• Fuel/Mileage costs
• Travel expenses
• Overnight expenses (food in certain circumstances)
• Rail Tickets (single & season tickets)
• Uniforms, work clothing and tools
• Cleaning costs for uniforms
• Professional fees, subscriptions & unions fees
This list is an example of what you could claim back; there may be expenses & items specific to the job role that you could claim back.
What are the Deadlines?
In the UK, the current legislation states that you can claim back up to four years when claiming a tax rebate. What this means is you could claim for the following tax periods:
• Year ending 5th April 2016
• Year ending 5th April 2017
• Year ending 5th April 2018
• Year ending 5th April 2019
Over such a long period of time wage slips and p60s can be lost or misplaced. In most cases, this is not a problem as at Swift Refunds we can seek copies from HM Revenue & Customs on your behalf.
Are you owed Tax back from HMRC? Find out today
Am I Due Any Tax Back?
Most workers, whether employed or self-employed may be due a tax rebate for work-related items, expenses or because they have paid too much tax. HMRC do not know everyone’s individual circumstances, and it is up to the taxpayer to contact HMRC to see if they are entitled to any tax relief.
Other reasons for a tax refund may include pension payments, redundancy payments, interest from a savings account, PPI, or UK income if you are living aboard.
All claims for tax refunds and rebates are reviewed on a case by case basis. Use our tax claim form and answer a few simple questions to see if you could be entitled to make a claim.
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Tax Refunds & Tax Returns made easy
Whether you use your own vehicle for work, use public transport such as trains to travel to various work locations or buy your own equipment and materials then there is a good chance that you can claim back for your travel expenses. HMRC lets claimants claim up to 4 years worth of expenses. On average a 4-year tax rebate pays out around £2,500.