Advise would be gratefully received to help my Grandson self employed on CIS Complete Tax Return

margf

My Grandson has been self employed in the tax year 2024/25 he is a subcontracting electrician in the construction industry.
He has had tax deducted under the CIS scheme.
Please can anyone advise what allowable expenses he can claim?
Would it be worth paying an accountant to complete the return?

Any idea what they are likely to charge for this service?

Thanks in advance

MattMattMattUK

margf said:

My Grandson has been self employed in the tax year 2024/25 he is a subcontracting electrician in the construction industry.
He has had tax deducted under the CIS scheme.
Please can anyone advise what allowable expenses he can claim?

Allowable business expenses only. The list of what he can claim would include too many things to list, but essentially they must be purely for business usage, his accountant would be able to advise him on this.

margf said:

Would it be worth paying an accountant to complete the return?

Yes.

margf said:

Any idea what they are likely to charge for this service?

A proper accountant, £300-3,000 depending on his turnover, the amount of required work etc. If he has all his accounts in good order in a digital format then at the lower end, if he just wants to hand them a pile of receipts and some random numbers then at the top end of that. They will also provide proper tax advice. I would probably estimate around £500 for the first year, the savings involved in both potential tax and hassle of an HMRC audit and fine will be more than worth it.

Do not go with any of the online "reclaim loads of tax" companies that target the construction industry, choose a proper accountant. 

Nomunnofun1

MattMattMattUK said:

margf said:

My Grandson has been self employed in the tax year 2024/25 he is a subcontracting electrician in the construction industry.
He has had tax deducted under the CIS scheme.
Please can anyone advise what allowable expenses he can claim?

Allowable business expenses only. The list of what he can claim would include too many things to list, but essentially they must be purely for business usage, his accountant would be able to advise him on this.

margf said:

Would it be worth paying an accountant to complete the return?

Yes.

margf said:

Any idea what they are likely to charge for this service?

A proper accountant, £300-3,000 depending on his turnover, the amount of required work etc. If he has all his accounts in good order in a digital format then at the lower end, if he just wants to hand them a pile of receipts and some random numbers then at the top end of that. They will also provide proper tax advice. I would probably estimate around £500 for the first year, the savings involved in both potential tax and hassle of an HMRC audit and fine will be more than worth it.

Do not go with any of the online "reclaim loads of tax" companies that target the construction industry, choose a proper accountant. 

And the accountancy fee is an allowable expense!