On average we claim back to our clients around £2,500
If you made £12,500 this tax year, and you have been deducted 20% tax as you normally are if you are working on CIS intustry. 20% out of £12,500 is £2,500 in overpaid tax that we can claim back for you.
This is just a simple example as we will also need to calculate what your National Insurance contribution will be.
2020-21 Tax Year was from 06/04/2020 to 05/04/2021
We can help you claim any overpaid tax paid already during this period, as on the first £12,500 taxable income (meaning income - expenses) made per year you do not have to pay tax on.
If your income is above the £12,500 tax threshold it will help if you kept receipts for your work related expenses (such as PPE & Tools, Transport, Bank fees). These expenses will be entered in the calculation to lower your taxable income.