Newsletter Autumn 2013

Make your claim preCISely

Companies who are registered as sub-contractors under the construction industry scheme (CIS) can set-off the CIS tax deducted from their invoices against the PAYE and NICs they retain from employees' wages. If the CIS tax is greater than the PAYE deductions made in the tax year, a repayment must be claimed from HMRC.

In an attempt to improve their CIS tax repayment service, HMRC have listed their top tips for successful CIS repayment claims. Some of the less obvious points are:

Make sure that the UTR number for the company and its name are correctly shown on all enclosed documents.

Send the CIS deduction statements for the right tax year, not for any other period.

Where the company is also a contractor, all its CIS returns (forms CIS300) must be up to date before it can claim a repayment of CIS tax.

If a business was incorporated during the tax year of the claim, do not submit deduction certificates for periods before the incorporation.

If the company has other tax repayments due to it, say for corporation tax or VAT, detail those amounts and supply supporting documentation with the CIS repayment claim.

We can help you prepare all the documents you need for your CIS repayment claim, and guide you through the process.