A CIS tax refund refers to self-employed tax for individuals in the construction industry. As with any tax return filling out the tax documentation while ensuring that you receive the most money can be challenging. The use of tax software and websites that specialize in CIS tax refunds ensure that all the necessary costs, rebates and other expenses are properly factored into the tax.
When claiming a CIS refund there are many different rebates and credits that can be applied. The benefits of using a website will make sure that you have up to date information on all the available rebates, as tax information can change yearly.
Some of the many expenses that can be reimbursed through the CIS refund include maintenance costs, equipment costs, repair costs, work related insurance, tool rebates, stationary and printing costs, clothing and work wear costs, mileage rebates for travel and even accommodation costs.
Any type of construction contractor that can be reimbursed for self-employment expenses through the government include fitters, grounds workers, plant operators, heating engineers, plasterers, carpenters, painters, electricians, mechanics, bricklayers, plumbers, tool operators, dry liners, decorators and more. The main qualification is that you are self employed.
Items and jobs that can be claimed in the application are those of which you have not been reimbursed by another company or contractor. These items can only be used strictly for your self employed contractor business and therefore you will need to have detailed records on all of your work related expenses and use.
The amount of tax you pay will depend on your circumstances, with the standard rate being 20 percent. However the amount of tax you must pay can vary and can be lower or higher than what you actually paid. Tax refund websites will ensure that you get any money you owed if you are paid a higher tax rate than necessary.
With online services it is possible to submit monthly tax refunds so that you have access to your money now, rather than having to wait until the end of the tax year. With help from individuals and websites it is possible to obtain the largest refund possible. Without any help you may find that you are grossly underestimating the amount of money you are entitled to in your CIS rebate.
You may not realize that you are getting all of your hard earned money. Additionally the stress and time it takes to fill out the documentation will prevent many construction contractors from obtaining their money. Take all the hard work out of tax documents and get help by using a website and talking to CIS tax refund professionals.
When claiming a CIS refund there are many different rebates and credits that can be applied. The benefits of using a website will make sure that you have up to date information on all the available rebates, as tax information can change yearly.
Some of the many expenses that can be reimbursed through the CIS refund include maintenance costs, equipment costs, repair costs, work related insurance, tool rebates, stationary and printing costs, clothing and work wear costs, mileage rebates for travel and even accommodation costs.
Any type of construction contractor that can be reimbursed for self-employment expenses through the government include fitters, grounds workers, plant operators, heating engineers, plasterers, carpenters, painters, electricians, mechanics, bricklayers, plumbers, tool operators, dry liners, decorators and more. The main qualification is that you are self employed.
Items and jobs that can be claimed in the application are those of which you have not been reimbursed by another company or contractor. These items can only be used strictly for your self employed contractor business and therefore you will need to have detailed records on all of your work related expenses and use.
The amount of tax you pay will depend on your circumstances, with the standard rate being 20 percent. However the amount of tax you must pay can vary and can be lower or higher than what you actually paid. Tax refund websites will ensure that you get any money you owed if you are paid a higher tax rate than necessary.
With online services it is possible to submit monthly tax refunds so that you have access to your money now, rather than having to wait until the end of the tax year. With help from individuals and websites it is possible to obtain the largest refund possible. Without any help you may find that you are grossly underestimating the amount of money you are entitled to in your CIS rebate.
You may not realize that you are getting all of your hard earned money. Additionally the stress and time it takes to fill out the documentation will prevent many construction contractors from obtaining their money. Take all the hard work out of tax documents and get help by using a website and talking to CIS tax refund professionals.
About the Author:
Cis tax refund sites ensure that all the necessary costs and rebates are factored into your return. You can find more information in our insider's overview of how to request a cis tax refund pack and where to find a reliable cis refund specialist online