Tax settlement / CIS Tax Refunds
If you are self-employed, own a limited company or have received income during the tax year upon which is due, you have to complete and submit an HMRC tax return. You need to have a Unique Tax Reference number before starting any Self – employment work.
Self-Assessment can be confusing for individuals, so why not let the experts handle your tax return this year? When you have an authorized or an expert person to help you with the Self – Assessment you can be sure that your Tax Return is filled correct and you are not over-paying taxes.
Our self – assessment accountants will complete your HMRC tax return and advice you on minimizing your tax bill. We will guide you and provide more information’s about your personal income tax, what income are to be taxed, and what expenses are allowed to be deducted from taxable income.
About CIS Claim
If you are working under the construction industry scheme your contractor should deduct from the sub-contractor invoices CIS Tax and to pay this amount to HMRC. The sub-contractor will be able to claim the CIS deduction back and offset this against their tax for the year. We can help you in filing your declaration and to claim the CIS deduction back.
When you are registered with the Construction Industry Scheme (CIS), you are still responsible for paying the correct tax and National Insurance for your business, even if deduction have been made by contractors throughout the year.