The construction industry is one of the most volatile sectors in the UK economy, and careful planning and advice are needed to maintain efficiency and competitiveness.
We aim to work with you to help you optimise your performance through advice on appropriate funding, project planning, cashflow planning and payroll services.
We are here to guide you through the maze of regulations imposed on the industry, helping you to minimise your compliance costs, and help you to build a successful future.
The Inland Revenue has set up the Construction Industry Scheme to help manage the tax affairs of people who work in the construction industry. As a general guide, ‘construction’ covers almost anything that is done to a permanent or temporary building, structure work, civil engineering and in general anything from installation to demolition.
If you work with a registration card, your contractor will make a deduction of 18% from the gross payment, which should be treated as a payment towards your tax and Class 4 National Insurance liabilities when your tax return is completed.
It is then your responsibility to make a claim for any tax refund from the Inland Revenue which may be due back to you. The Inland Revenue may not necessarily tell you if you over pay tax or are due a rebate.
We estimate that 1 in 3 of the UK’s 30 million taxpayers may have legitimate claims for repayments of tax but most either do not know about it or are unsure about how to get that money back.
If you are a subcontractor currently on the CIS25 vouchers we offer a free, no obligation consultation. With years of experience in this sector, we pride ourselves in having an understanding of the specific problems faced by builders, subcontractors and civil engineering consultants, and in being able to recommend effective tax solutions.
We will take care of the whole tax return process from beginning to end. We ensure that all the correct forms are completed and we will investigate and chase up the claim, right through to the repayment stage.
All tax residency issues are taken care of on your behalf. When your refund comes through we can arrange to send it to back home or deposit the cash straight into your bank account.
At Shabir Ahmed & Co we operate on a ‘No Rebate-No Fee’ basis and our commission is only deducted when the tax rebate is fully secured.
Contact us today for a free no obligation consultation
Personal tax planning.