How do I claim my CIS tax back?

If you’ve had tax deducted as part of the Construction Industry Scheme (CIS), you could be missing out on money you’re entitled to! With the new tax year just a couple of days away, the time to claim your refund is fast approaching.

While you can complete your return individually, some people avoid or delay their claim due to the complex and time-consuming nature of the CIS return process. For a swift, simple, stress-free solution, why not talk to a specialist provider today and claim back what you’re owed? At Danbro, we’re experts in CIS, delivering fast, compliant tax returns to thousands of contractors every year. For just £199 +VAT (down from £249 for a limited time only), our dedicated accountants will prepare your return and make sure you keep more of your money. Click here to find out more about our CIS refund service.

What is a CIS Tax Refund?

CIS dictates that contractors deduct money from a subcontractor’s payments to be passed to HMRC. Those deductions are considered ‘advance payments’ towards the subcontractor’s tax and National Insurance.

You must be registered with the scheme in order for it to apply. Deductions are usually made at the standard rate of 20%. However, they can range from 0% (gross status) to 30% (higher rate), depending on your circumstances.

In many cases, too much tax is deducted from a subcontractor’s payment. Therefore, those individuals are often due a CIS tax refund. Overpayments in these instances can reach thousands of pounds – and it’s money that you’re entitled to!

When can I claim my CIS Tax Refund?

While you can only complete your CIS tax return at the beginning of the new tax year (April 6th), with Danbro, you can get started right now. With many people waiting on their rebate, either to pay off some bills or treat themselves to a holiday, most returns are conducted within the first month of the tax year.  

Refunds can be completed independently. However, plenty of people choose the hassle-free approach of hiring a specialist accountant to ensure their rebate is carried out quickly and accurately. With potentially thousands of pounds at stake, can you afford to miss out?

Do I need an Accountant?

Claiming your CIS tax refund can be a problematical process. Most companies make you print, sign and post your returns, complicating the process, and delaying your rebate.

The professionalism and experience of an accountancy firm, who specialise in CIS tax refunds, will help you maximise your money.

Why Choose Danbro?

With two decades of industry experience, Danbro understands the pressures that self-employment can bring. Here are five reasons to start your CIS tax refund with us:

  1. NO Refund, NO Fee

    If you don’t qualify for a CIS tax refund, we won’t charge you a penny. It’s that simple.

  2. NO Up-front Costs

    As our fee is taken directly from your refund, there are no up-front costs for you to pay.

  3. Rapid Refunds

    With Danbro, you can get your money within one week of your claim’s approval*.

  4. Exclusive Online Portal

    You can provide your tax return information securely, online. You’ll also have access to a dedicated team of accountants via the portal’s live chat service.

  5. Keeping You Compliant

    We make no promises regarding refunds that haven’t been approved by HMRC. You’ll receive a full record of your submission, including regular updates on the status of your rebate.

Want to Earn £50*?

Know any subcontractors who could benefit from our tax refund service? By signing up as a Danbro introducer, you’ll be given an exclusive code to hand out to any CIS subcontractors you know. For every person you refer – who we process a refund for – you’ll receive an Amazon gift voucher worth £25! What’s more, the subbie will get £25 as well, by way of a discount. Find out more about becoming a Danbro Introducer here.
*Terms and conditions apply.

Please note “get your refund within 1 week” is based upon all the correct information being received in the correct format and subject to HMRC processing times. HMRC will not begin processing CIS returns until after the 24th April 2019.

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