CIS Tax Enquiry

samdd

[FONT=&quot]I have just been informed by the HMRC that my self assesment return (submitted in May) hasn’t been received. (Strangely they admit that this isn’t unusual) The only way i got to know about this was while enquiring if i had a rebate due to me and if so why is it taking so long to process. [/FONT][FONT=&quot]

Year 09/10 was particularly bad for the construction industry so earning were at an all time low, expenditure for running costs were particularly high due to the fact that a lot of travel was involved in securing work in other parts of the UK due to the lack of local work. [/FONT][FONT=&quot]

I’m about to file another tax return for 09/10 and was wondering if anyone could point me in the direction of a online rebate calc or would be able to advise if a rebate would be due based on the following figures[/FONT][FONT=&quot]
[/FONT][FONT=&quot]
£ 10,195.00 Gross [/FONT]
[FONT=&quot]£ 3,450.00 expenses/running costs[/FONT]
[FONT=&quot]£ 2,039. 37 Tax already paid @ 25% weekly stoppages by contractor.[/FONT]

[FONT=&quot]Thanks. [/FONT]

Gertie_Walker

£10195 - 3450 = 6745 profit
less personal allowance 6475
Tax due 270@ 20% = £54.00
Tax paid 2039.37 (is this right - 25%?)
Repayment 1985.37

samdd

Gertie_Walker wrote: »

£10195 - 3450 = 6745 profit
less personal allowance 6475
Tax due 270@ 20% = £54.00
Tax paid 2039.37 (is this right - 25%?)
Repayment 1985.37

Yes the 25% is tax deducted by the contractor of gross. I'll get my return off today. Many thanks for the calculation.

Edit.. sorry its 20%. not sure why i said 25%

Pennywise

Why not submit it online - it does the calcs automatically and most repayments are made within a week or two

chrismac1

Agreed, do it online and your cash will be with you soon, plus they will never deny having received it. Any other method takes ages - if you are lucky.

samdd

Pennywise wrote: »

Why not submit it online - it does the calcs automatically and most repayments are made within a week or two

yes i am doing it online now.. its freeking hard to get your head around though.

samdd

All done guys and £1985.37 rebate due..... Many thanks for your assistance