Construction Sub-contractors

If you are a sub-contractor in the construction industry you are required to complete a personal tax return each year. The tax return tells HMRC how much you have earned, how much expenditure you have incurred and how much CIS tax you have already paid.

As a sub-contractor it is likely you are entitled to a tax refund each year as you will have paid more in CIS tax than you owe to HMRC.

If you ask us to act on your behalf you can expect the following benefits:

• Completion of a full set of accounts for your business
• Submission of your tax return
• Overseeing the process for your repayment
• Your own dedicated accountant
• Representation in the event of a tax enquiry from HMRC
• Unlimited help and advice throughout the year from your accountant

What is the process?

If you ask us to take care of your tax return we follow a thorough process that ensures that your tax return is accurate and that as a sub-contractor you receive the biggest tax refund possible.

The process is as follows:

1. We will ask you to complete a short client registration form which authorises us to act on your behalf
2. We send out automated reminders that let you know when to send your records to us. If your records are electronic they can be emailed to us or if you keep paperwork it can be sent to us through our free, pre-paid mail service
3. We will then complete your accounts and tax return within 14 days of receiving your records
4. Before completion, the work will be double checked by another Senior Accountant who will ensure that every possible expense is claimed to ensure you get the maximum tax refund available to you
5. We send a copy of your accounts and the resulting tax return for you to review and approve
6. Your refund will then be paid to you on the same day that we receive it from HMRC

We realise that you probably want your tax affairs to be as hassle free as possible which is why we have developed our industry-leading streamlined way of working. It couldn’t be easier.

Common questions we are asked by sub-contractors

Q. How long will my refund take to come through?
A. We submit everything electronically to ensure you receive your refund as quickly as possible. However, the speed in which HMRC pay out CIS refunds can and do vary. This is why we have an internal system in place that monitors your refund and chases up HMRC periodically if your refund has not been paid. Refunds can take anywhere between 7 days to 6 weeks.

Q. Do you take a percentage of the refund as part of your fees?
A. No, unlike a lot of companies that process CIS refunds we do not take a percentage of the refund. Instead we take a flat fee (outlined below) that reflects the amount of work that we carry out.

Q. What expenses can I claim for to increase my refund?
A. There are many different types of business expenditure you can claim for, some types are obvious and some are a little less so. Put simply, if a cost has been incurred in order for you to carry out your work then it is usually claimable. There can be expenses that you may not think of, and that’s what we’re here for. We will ensure you claim for everything possible and not a penny less!

Q. My records are incomplete, can I still claim for my expenses?
A. We have many clients in the construction industry and incomplete records are very common. We have ways and means of calculating your income and expenses if we do not have the necessary records which means that you will not over pay tax. We will also help you get on track with your record keeping so that it is not a problem going forward.