If you are a construction worker who is paid under the PAYE scheme, then you are no doubt already aware of the CIS (Construction Industry Scheme) system of paying construction workers. It was introduced in the 1970s to crack down on tax evasion within the construction industry and cash-in-hand payment arrangements. Because it affects the way you are taxed as a self-employed builder, it is pretty important to register under the CIS scheme to keep more of your hard-earned cash in your pocket instead of in the hands of HMRC. We at DSR Tax Claims know how difficult it can be to guide your way through these all of these different taxation rules and regulations so hopefully our handy guide will help you if you are switching from being paid by PAYE to being part of the CIS payment system. Our friendly team are always available to help you with any tax issues you may be experiencing so give us a call on 0330 122 9972.
How to switch from PAYE to CIS?
Luckily, with DSR Tax Claims, you are in good hands. If you are intending to become a self-employed construction worker then give us a call on 0330 122 9972 and we will guide you through the process. Our friendly team can let you know what financial records you need to be keeping and how to register under CIS as well as helpful information on how to ensure that you keep as much of your hard-earned cash as you are entitled to.
It is really important to get this information as soon as you have decided to make the switch as it can make the difference between being taxed at 20% and being taxed at 30% – which is how much will be deducted from your pay if you don’t register as a CIS worker. There’s no need for concern though – call our team of experts and we will get you sorted.
What to do if you have already worked part of the tax year under PAYE?
Sounds like a real pain to sort out, doesn’t it? Switching from one taxation system to another, it’s bound to be a real headache! Not to our experts at DSR Tax Claims. Give our team a call on 0330 122 9972 and we will sort it out for you – all we will need to do is ask you a few simple questions and then we can take it from there, no headache required.
What if you want to switch the other way? From CIS to PAYE?
There’s all this information out there for PAYE workers who want to switch to the CIS scheme, but what about those of you who want to switch the other way? Unfortunately, HMRC information isn’t quite so easy to come by in those situations. Of course, if you are a DSR Tax Claims client, it is no hassle at all – all you need to do is let us know and we will take it from there. We can inform HMRC on your behalf and even sort out your tax refund so that you aren’t left out of pocket by your change of circumstances. It doesn’t even matter if you are moving out of the construction industry altogether – our team of experts are on hand to make the whole situation as painless as possible so call us on 0330 122 9972 and let us take it from there.
Of course, whether you are PAYE or CIS, you could be entitled to a healthy tax refund and we at DSR Tax Claims pride ourselves on getting you your maximum refund fast so call us on 0330 122 9972 and, once it has been submitted to HMRC, your refund could be with you within 21 days!