Allowable CIS expenses:
- Mileage allowance/Other travel expenses
- Tools and equipment purchased/hired
- Clothing and laundry
- Home office
- General administration costs (phone, printing, post and stationary)
The standard amount of CIS tax you have to pay is currently 20%, however under the CIS you are allowed to reclaim allowable business expenses via your annual tax return. As a Self-Employed person with reasonable expenses, you will certainly have overpaid in tax and will be due a CIS rebate typically in excess of £2,000.
Check out what rebate you could be due by completing our CIS rebate calculator.
It is important to keep receipts or proof of purchase for each expense as they are incurred, better still to routinely file all relevant information. It is also important to remember any expenses claimed must be for business use and not personal.
Our service is fast and completely hassle free, we liaise with HMRC making the process straight forward for you. We will ensure that you receive the highest rebate to which you are entitled, but more importantly in full compliance with HMRC rules.
We provide a professional service managing all aspects of your claim, including preparation, submission and addressing any enquiry with HMRC. Our strict compliant service ensures you are well aware of any responsibilities such as National Insurance and your CIS return is submitted to HMRC within the guidelines and before the deadline.
You are eligible to reclaim any overpaid tax for the past four years under the CIS scheme. For more information or to discuss your expenses in more detail contact us on 01252 702270 and we will be happy to help.