The CIS tax refund is specifically for self employed contractors working in the construction industry. Many self employed workers are intimidated by the amount of tax paperwork they need to fill out in order to obtain as much of their hard earned money as possible. However with the help of CIS tax websites, the entire process of filing and obtaining your money is made much easier.
CIS websites contain knowledge on all the current credits and rebates, as these can change from year to year depending on tax policy. With a website that specializes in CIS you can be sure that all of your documents contain the proper, up to date information.
Common work related expenses that can be applied to the application include tool rebates, work wear rebates, mileage rebates, work related insurance, printing costs, stationary costs, maintenance and repair costs and more.
The many different positions in the construction industry that are eligible for the CIS refund include self employed electricians, fitters, mechanics, grounds workers, bricklayers, plant operators, plumbers, heating engineers, tool operators, plasterers, dry liners, carpenters, decorators and painters.
It is not possible to claim any expenses that were reimbursed from other construction companies or contractors, no matter what the expense is. Detailed records are necessary in order to easily fill out your paperwork. Any self employed individual will keep good records, very important for tax purposes.
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.
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 guide to how to request a cis tax refund pack and where to find a reliable cis refund specialist
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