If you are in an
organization that spends a lot in the construction materials, you are
undoubtedly eligible for tax refunds and even tax return that falls under the
Construction Industry Scheme set by the HM Revenue & Customs in Essex. The scheme is usually called as
CIS in which rules for contractors as well as subcontractors in the
construction industry and eligibility for CIStax refunds are set.
A few pointers to get CIS Tax Refunds Services:
Determining Eligibility:
For the eligibility of CIS tax return, you first need to find out if the work
done has been covered by the scheme or not. The following individuals would be
included among the eligible ones:
a) Individuals
who are self-employed
b) Organizations
with partnerships and limited liability partnerships
c) Labour
agencies
d) Organizations
that spend over £1 million/year for construction over a period of 3 years
e) Property
developers
Inclusion: Eligible work
for a CIS tax return include
a) Permanent as
well as temporary building or even structure
b) Installations
c) Services comprising
general construction
d) Jobs that are
not included in the construction work but are part of it, especially when it is
done for constructing new property.
Exclusion: Things that are
not included under the CIS scheme are
a) businesses
with a budget of more than £1 million per year for any construction work
b) doing construction work in one’s own
property
c) making investments in property
d) businesses
that are meant for commercial purposes
So, these are
some of the highlights of CIS tax
refunds services. However, if you are in Essex, you do not need to think about finding the right CIS tax
refunds services. All you need to do is to make your research stronger and get
in touch with the right firm or organization offering the same services.