How much CIS could you get back?
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Transcript
How much CIS could you get back? Contractors must take 20% off payments to you if you're registered for CIS, or 30% if you're not. That money counts towards your tax bill. If more was taken than you owe, the difference comes back to you from HMRC. A registered electrician is paid £30,000 by contractors, with £5,000 of expenses and £6,000 taken under CIS, and has no other income. Their Income Tax and Class 4 National Insurance come to £3,231.80, so £2,768.20 comes back. HMRC asks you to allow up to 4 weeks for a repayment to reach you before you contact them. Add your gross pay, the CIS taken off, and your van or mileage, tools and phone. The estimator runs in your browser, and nothing you type into it is sent to us. Estimate yours, free, at rightotax.co.uk.
Voice and visuals made with automated software, including AI.
The one-minute version
Transcript
How much CIS could you get back? Contractors must take 20% off payments to you if you're registered for CIS, or 30% if you're not. That money counts towards your tax bill. If more was taken than you owe, the difference comes back to you from HMRC. A registered electrician is paid £30,000 by contractors, with £5,000 of expenses and £6,000 taken under CIS, and has no other income. Their Income Tax and Class 4 National Insurance come to £3,231.80, so £2,768.20 comes back. Estimate yours, free, at rightotax.co.uk.
Voice and visuals made with automated software, including AI.
This is general information to help you understand the rules. It isn't tailored to your circumstances, so check your own position before acting on it.
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