CIS – Are you due a refund from the Tax Man!

Are you a contractor in the construction industry?

From April the 5th you are able to submit your CIS Tax return to the HMRC.

But what does that mean?

As a CIS contractor; 20% of the money that you earn is automatically deducted from your wages and sent to the Tax Man. Personal Tax allowances and valid expenses aren’t taken into account and that means most CIS contractors are due a refund. An average refund for a CIS contractor is around £1800 and can go up to as much as £3000.

Remember it’s your money the Tax Man has got. The quicker your tax return is processed, the quicker the money is back where it belongs. With you!

At Fairfax Tax and Accounts we can help you through the complicated process of sorting out your CIS return. We take all the hassle and stress out of the process leaving you to get on with your work.