Are you a limited company subcontractor that hasn’t be able to offset your Construction Industry Scheme (“CIS”) deductions against your PAYE liabilities in the year? Do you need to reclaim a repayment?
HMRC has introduced a new Repayment iForm which should make the CIS repayment claim process much more efficient.
A limited company subcontractor can log into the Government Gateway and submit their claim using the Repayment iForm. Companies should allow 40 working days (two months) for a reply before chasing the repayment.
Our experience: we have used the iForm once so far for a client, the form was processed within two weeks and we were amazed when HMRC phoned us to confirm it had been processed and that the refund was en route.
If you are a limited company client and need to claim a CIS refund, get in touch and we’ll do this for you.
If you have any questions on this article and how it affects you and your business, please get in touch here.
JLA Accounting Limited takes every care in preparing material to ensure that the content is accurate and up to date. However, no responsibility for loss for anyone acting from or refraining from acting as a result of this information can be accepted by JLA Accounting Limited.
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