What happens to my CIS deductions if I stop trading?

What happens to my CIS deductions if I stop trading? You can claim that tax year's CIS deductions back early on form CIS40 before 5 April, or through your final tax return afterwards. If you stopped on 30 September 2026, either route works. No. They are advance payments towards your tax and National Insurance, held by HMRC against your name. You get any excess back either through form CIS40 during the tax year or through your final tax return after it. It is HMRC's claim for repayment of subcontractor deductions by a sole trader during the tax year. You can claim online or print and post the form. Partners use form CIS41 instead, with the other partners' written agreement. No. HMRC's manual says no in-year repayment can be made after the end of the tax year the deductions were made in. After 5 April, you claim through your tax return. Read the full answer, with every source, at rightotax.co.uk.