Questions?

When you register for self assessment, you are given a UTR (Unique Tax Reference Number) this is a 10 digit number that identifies you & your tax record with HMRC. 

When you start working in the construction industry, if you aren’t already registered as a subcontractor you can call HMRC and let them know.  HMRC will update your record to ensure when a contractor verifies you, you verify you at 20%.

If you don’t register, HMRC will deduct your tax payments at 30% not 20%

Ensuring your registered is really important.

You can find more information in this link – CIS registration info

Start putting together all of your CIS statements (given to you by your contractor).  If you have any missing, contact them and ask for copies.  Go through your bank statements and put together your expenses.

Ensure you know what your UTR is, make sure you have a record of it (you need this to file your return)

We will need copies of your CIS statements (these will be issued to you by your contractor each time they pay you). If you have misplaced a statement don’t panic, we should be able to get the information we need from your bank statements.

We will need information relating to your business expenses this will include things like travel and subsistence costs. We will make sure you know exactly what we need, what to give us and that nothing is missed that you could claim for. All the information can be sent to us via our online management system to keep it really simple. We will guide you every step of the way.

Some examples are below, but don’t worry, we will make sure you are claim for allowable expenses.

• Work travel
• Some meals
• Parking and tolls
• Tools (and their cleaning and repair)
• Protective clothing and gear
• Public liability insurance
• Phone bills
• Home office – rent, stationary, postage
• Professional memberships
• Accountancy fees              

That’s fine. We have 2 payment options for you:

1) pay in full before we submit your return or 2) pay once your rebate has been paid.

In option 1 – pay before we submit – your rebate will be paid into your account directly from HMRC (this is likely to be quicker than if you chose option 2)

In option 2 – pay when your rebate is paid – we will request the HMRC pay your rebate to us, we then deduct our fees and send the balance of the rebate to you. This may take slightly longer than option 1 but both options should be a maximum of 6 weeks. 

Standard Service

Between 3 and 7 weeks

We will have your accounts ready to submit within 7 working days of receiving all the information we need from you. HMRC will then take up to 6 weeks from when we submit them to send any rebate you are due. It is very often much quicker than this depending on the time of year.

If you select to pay our fee up front and have your rebate sent directly to you from HMRC, this is likely to save time on the payment of your rebate. 

Express Service

Between 1 and 6 weeks

We will have your accounts ready to submit within 3 working days of receiving all the information we need from you. HMRC will then take up to 6 weeks from when we submit them to send any rebate you are due. It is very often much quicker than this depending on the time of year.

If you select to pay our fee up front and have your rebate sent directly to you from HMRC, this is likely to save time on the payment of your rebate. 

No, not everyone will get a rebate but approximately 80% of people do. Whether you get a rebate depends on your income, deductions and expenses. Having an accountant complete your return gives you the best possible chance of claiming for all allowable expenses and of getting a rebate. We will be able to tell you what rebate to expect before we submit your accounts and before you pay us a fee.  

Absolutely.

A lot of subcontractors file their own returns, if you don’t feel confident to do this, let us help you.  Our fee is tax deductable & can be used to reduce your profits.

We are here to help you at every step and make this simple, easy and quick!

You will be guided through exactly what you need to do and when. Our online systems are set up to ask for specific information at specific times so that you won’t get overwhelmed with the process and nothing is missed or forgotten. You will be given clear guidance at all times. 

You can ask for a phone call or email questions at any point. We are always here to help and support you but we do the hard work!

More information on what you will need to send us can be found in the section “What information will you need to process my return?”

This is sometimes referred to as an online authority.  We need this in place to act on your behalf. One of the first things we do once you decide to work with us is request this to ensure that we can deal with HMRC on your behalf if we need too.

Once you are registered on our online portal we will request this and the code will be sent directly to you by post.  The code starts SA**********  it is really important you pass this onto us to avoid any delays in your refund.

Your return can be filed once we have actioned this code and you have signed your return.

You contractor will have made a deduction (usually 20%) for tax. However, based on your profits you will also have to pay some national insurance.

**2021/22 National Insurance Rates**

You usually pay 2 types of National Insurance if you’re self-employed:

• Class 2 if your profits are £6,515 or more a year.  Currently £3.05 per week.
• Class 4 if your profits are £9,569 or more a year.  Currently 9% on profits between £9,569 to £50,270.  2% on profits over £50,270

National insurance is deducted automatically from any rebate and we will itemise this in your draft return before it is submitted . You can rest assured that we will make sure that you pay this correctly.