Each year we receive thousands of pounds of HMRC refunds for CIS contractors that had tax deducted at source. And as the tax year 17/18 (ie year ended 5/4/18) comes to an end a claim for a CIS refund can be put it as early as 6/4/18.
With a 6 to 8 week turnaround by HMRC to check and pay out the refund its worth getting your CIS tax return done as early as possible to ensure a quick refund.
HMRC will not remind you of a refund balance due, and will cancel the tax payers ability to claim it back after 5 years have lapsed from the end of the tax year it was applicable in. So there is a limited amount of time to claim the CIS refund and if left to long HMRC will not refund it.
If you want help with your CIS tax return for year ended 5/4/2018 then please get it touch as soon as you can. With our tax expertise and specilist tax software that connect directly to HMRC we can calculate and submit the best return for you ensuring the highest refund that can be correctly claimed.
By Anni Khan at Tax Affinity Accountants
Tax Affinity Accountants are experts in Tax and Accountancy. With branches in Surbiton , Worcester Park , Kingston upon Thames , Cheam and Epsom they are considered in the Industry to be expert accountants and tax advisors for small businesses. Helping and supporting business throughout the UK, they regularly help clients grow their business providing tailored advice and support.
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