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CIS sub-contractor refunds

CIS Sub-contractors – Claim Your Tax Refund Now!

CIS sub-contractor refunds

[Updated April/May 2022]: It’s now time to start the process of claiming your tax refund if you are a sub-contractor working within the Construction Industry Scheme (‘CIS’). Refunds are usually fast through Taxfile.

What you need to do

Don’t delay – book an appointment with Taxfile today by calling 0208 761 8000 and we’ll sort it all out for you. We have staff who speak English, Polish, Pashto, Dari, Russian, French, and Dutch, should you need them on the day. Our Tulse Hill office is at 25 Thurlow Park Road, London SE21 8JP. Call 0208 761 8000 for an appointment — the first 20 minutes is free! Alternatively, you can have a ‘virtual’ appointment with us on Zoom, Teams, Google Hangouts, Skype, FaceTime, WhatsApp or whatever you prefer.

Outside of London? No problem – click here.

We’re open from Monday to Saturday in April & May (including early evenings Mon/Tues)

Our Tulse Hill office is open 6 days a week during April & May and offers Saturday morning appointments plus early evening appointments on Mondays and Tuesdays if standard office hours do not suit you (please call for details).

Check List

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New Taxfile Brochure - Download Here

New Taxfile Brochure – Download Here

New Taxfile Brochure - Download Here.

The new Taxfile brochure is out and you can download it here. Even if you’re an existing client, it’s worth taking a look in case we can help you in ways you weren’t aware of. We can help anyone e.g. the self-employed, directors of limited companies, partners in partnerships, sole traders, retired people, landlords, taxi and cab drivers, construction workers and just about anyone.

The new brochure covers:

  • Self-assessment income tax returns;
  • Services for SMBs;The new brochure from Taxfile - accountants and tax advisers in Tulse Hill, Dulwich, South London & the South West.
  • Accounts work for limited companies;
  • Bookkeeping and bank reconciliation;
  • Payroll & PAYE tax and National Insurance, company pensions and more;
  • VAT help, including for VAT schemes, registration and VAT returns;
  • Company pensions (auto-enrolment etc.);
  • Corporation Tax returns;
  • Confirmation Statements;
  • Making Tax Digital (MTD);
  • CIS calculations and tax rebates for construction workers;
  • Help with tax complications;
  • Taxfile brochure - inside spread.Dealing with HMRC on your behalf;
  • Joining or leaving various tax schemes;
  • Capital Gains Tax (CGT) calculations and handling;
  • Tax calculations relating to property income for landlords;
  • Disclosures of income not previously taxed (e.g. from abroad);
  • And much more.

Forward to a Friend – Free Consultation

Please feel free to forward the new Taxfile brochure to a friend who could benefit from our accountancy and tax-related services. We offer a free 20-minute consultation for new clients, without obligation.

020 8761 8000 Book Appointment Download Brochure

We are open 6 days a week during February including Saturday mornings (by appointment) and later opening (until 6pm) on Mondays and Tuesdays.

Christmas & New Year Opening Times at Taxfile

Christmas & New Year Opening Times at Taxfile

Christmas & New Year Opening Times at Taxfile

Season’s greetings to all our clients and readers and sincere thanks to all of you who have kept us busy with work during 2021 — we really appreciate it.

Here’s a quick reminder of our opening times during the Christmas period and into the New Year. This is for our Tulse Hill office (Thurlow Park Road) and our Dulwich office (Turney Road) except where otherwise indicated.

  • Friday 24 December 2021 (Christmas Eve): we’re open from 9am until 3pm (Tulse Hill office only).
  • Saturday 25 December 2021 (Christmas Day): closed.
  • Sunday 26 December 2021 (Boxing Day): closed.
  • Monday 27 December 2021 (a public holiday): closed.
  • Tuesday 28 December 2021 (a public holiday): closed.
  • Wednesday 29 December 2021: open 9am until 5pm.
  • Thursday 30 December 2021: open 9am until 5pm.
  • Friday 31 December 2021: open 9am until 3pm (Tulse Hill office only).
  • Saturday 1 January 2022 (New Year’s Day): closed.
  • Sunday 2 January 2022: closed.
  • Monday 3 January 2022 (a public holiday): closed.
  • Tuesday 4 January 2022: we re-open from 9am until 6pm.
  • Wednesday 5 January 2022: open as usual, 9am until 5pm.
  • Thursday 6 January 2022: open as usual, 9am until 5pm.
  • Friday 7 January 2022: open as usual, 9am until 3pm (Tulse Hill office only).
  • Saturday 8 January 2022: open 9am until 1pm by appointment (Tulse Hill office only).
  • Sunday 9 January 2022: closed.
  • From week commencing Monday 10 January: open as usual (see footer).

Have You Contacted Taxfile About Your Tax Return Yet?

If you need a self-assessment tax return or any other kind of return and haven’t yet arranged it with us, please arrange an appointment urgently. January becomes frantically busy in the accounting world, so please make the most of the remaining December appointments while they’re still available — thank you. Appointments are by telephone, Zoom, Microsoft Teams, in person (under safety protocols) … Read more

How we harness technology at Taxfile in Tulse Hill, Dulwich, Devon & Cornwall

Harnessing Technology at Taxfile

How we harness technology at Taxfile in Tulse Hill, Dulwich, Devon & Cornwall

The rapid pace of technological change has caused some of the biggest shifts in how we view and process our tax returns. At Taxfile, we’re constantly striving to use technology as effectively as possible to aid us in collecting, analysing, and collaborating when working on your personal data.

Over the pandemic, we’ve had to place our reliance even further on technology to maintain our standards, with regular meetings online. We’re constantly improving the efficiency of our work pipeline and, with the ability to pull figures directly from online bank statements, we can ensure precision in the numbers we present you with. For the last two years, we’ve implemented cloud technology as both a collaborative tool between our senior and junior staff and as storage for various databases used to track everything from employee working hours to the status of your tax return. We’re expanding further on this concept in collaboration with Pure Technology by merging our existing cloud systems with our current remote work solution to form one, all-encompassing workspace environment. Hosting it in the Microsoft Cloud ensures that, with the help of our office staff, your paperwork and bookings can be sent to and viewed by your tax agent as soon as possible. This and a variety of other endeavours are examples of our ambitions to be at the forefront of innovations, and constant review of our policies ensures we remain ahead, or on track, to meet the standards set by Making Tax Digital (MTD) for its 2023 launch.

Contact South London’s Favourite Accountant

Taxfile can help you with all your tax or accountancy requirements. We offer Read more

Faiz from Taxfile - Helping the Community with Tax Problems

Faiz from Taxfile – Helping the Community with Tax Problems

Faiz from Taxfile - helping the South London community with their tax problems

Hello; I’m Faiz Mazloumiar. I have been working for Taxfile since May 2005, mostly doing tax returns for subcontractors, self-employed individuals, partnerships and landlords. I specialise in helping clients who, for whatever reason, have fallen behind in their tax affairs, assisting in making disclosures to HMRC whilst trying to minimise the penalties imposed on them over the years. I always aim to put our customers first by calling HMRC to try to cancel recent years’ penalties, then I submit any outstanding tax returns. When I submit the tax returns I also do an appeal for older years’ penalties to be revoked. In many cases HMRC accept my appeals and clients get their money back for anything they have had to pay. I am always fighting for my clients and I have been known to battle on behalf of them for over a year.

I also help many people in our local community who are on PAYE but perhaps do not know if they are paying the right tax and NI contributions. It is a little like charity work. When people from the local community bring in their P60, I will check it and give them advice on how to contact HMRC and ask for a refund if they have overpaid. When new clients come with any problems, they are usually very stressed and anxious and sometimes don’t understand the intricacies of the UK tax system. We aim to help them with their tax problems, so they can leave us feeling relieved and a little happier. When I help clients they trust me and I have grown my client base only through recommendations. It is very exciting and satisfying for me to be able to help my clients and community as a whole.

Contact Taxfile, South London’s Favourite Tax Accountants

For any tax- or accountancy-related needs, contact us. We’d love to help! Call Faiz direct on 020 8655 7891 or speak to our main switchboard on 020 8761 8000. Alternatively message us your tax-related query here. We also offer a free 20-minute introductory appointment and this is available in person, through a video call (Zoom, Teams etc.) or via telephone — whichever you prefer. We are accountants and tax advisors in Tulse Hill, Dulwich, South London and Devon/Cornwall in the West Country.

This post was brought to you by Faiz at Taxfile.

Latest e-Newsletter Confirms Important Updates

Latest News on Gov. Grants, Support, Loans, Deadlines & More

Latest e-Newsletter Confirms Important Updates

Don’t miss our latest newsletter. Published just this week, it includes several updates on the latest Government support for small businesses during the pandemic, including:

  • a possible 4th SEISS grant coming for the self-employed and …
  • extensions of both the Job Retention Scheme (‘furlough’) ….
  • and Bounce-Back Loan Scheme.
  • There’s also a useful link where you can check what help may be available to you using a simple but genius interactive interface.

The newsletter also includes imminent deadlines that may affect you and news about a significant VAT change that will affect the entire Construction Sector.

Have you submitted your Self-Assessment tax return for the year 2019-20? It’s due in a few days! Learn more in the newsletter or get the ball rolling here.

Have you paid any tax you owe for the same period? It’s now overdue if not. Also see the newsletter for more information contact us using the yellow buttons below.

Learn much more about all these topics and more in our latest e-Newsletter, which can be viewed here. For help with any tax or accounting related issue, simply contact us and we’ll be happy to help. Choose an option below …

Book an Appointment
Send us a Message
T: 020 8761 8000

Further Delays on the Roll-Out of the Domestic Reverse Charge for the Building & Construction Services.

The domestic reverse-charge is a major change to the way VAT is collected by HMRC in the building and construction industry reporting under the Construction Industry Scheme (CIS).

It was being introduced to combat VAT fraud in the sector and the initial roll-out on 1st October 2019 was delayed due to a combination of the sector being ill-prepared for the change and Brexit. The date was moved forward 12-months to 1st October 2020 but due to COVID-19 the start date has been further advanced to 1st March 2021.

At Taxfile, we will start contacting our VAT clients working under the CIS, in preparation for the 1st March 2021 start date.

If you would like to know how to prepare your business for this, you will need to: Read more

Watch out for scam emails, texts & calls

Watch Out – Fraudsters Are About!

Watch out for scam emails, texts & calls

Have you noticed a significant increase in the number of scam calls, phishing emails and dodgy texts to your mobile in recent weeks? We certainly have. Some of Taxfile’s customers have been asking if any are genuine, so we thought we’d send out this warning

If you receive a call, email or text from HMRC asking for your personal or financial details, it’s simple: DO NOT to give ANY information away via text, email or to someone calling you by telephone. They could be anyone! Your information will be used against you if it gets into the wrong hands — and that could potentially cost you a LOT of money. So if they call, text or email you out of the blue:

  • don’t confirm your date of birth,
  • don’t confirm your National Insurance Number,
  • don’t tell them your your mother’s Maiden name,
  • don’t confirm your Unique Taxpayer Reference (‘UTR’) or any other piece of personal or financial information,
  • … even if they say it’s urgent (most fraudsters will say it is, so as to panic you into divulging your information).

Even one bit of data given away can be dangerous these days. ‘Social Engineering’ scams can use one bit of information as a starting point to eventually build a more complete picture of your sensitive data. Once they have enough pieces of the jigsaw, they can potentially take over your identity, empty your bank account or go on a spending spree with a credit or debit card issued in your name. People have lost thousands! So, the message is to be careful not to give anything away via email, SMS/text or to someone who has telephoned you out of the blue.

If HMRC do send you a genuine email, text your mobile or call you, they will never ask for personal information, financial information or payment details. It may help you to check here to see a list of genuine communications that HMRC has recently sent.

If you’re going to give HMRC information and want to be sure it’s genuine, you need to Read more

Tax Returns for Self-Employed Londoners - Special Offer

Tax Returns for Self-Employed Londoners – Special Offer!

Tax returns for self-employed Londoners - Special Offer!
Are you self-employed? Are you late filing your 2018/19 Self-Assessment tax return? If so, now is the time to get Taxfile to sort it out for you.

There are 4 important reasons why you should file your tax return now:

1. Save money, with our special offer!

For a very limited time, we are offering to do 2018-19 Self-Assessment tax returns for self-employed Londoners for just £199 + VAT (our usual pricing is from £277 + VAT). That’s a saving of nearly £94 including VAT.

2. Stay eligible for Government Help during the lock-down

Self-employed people who are struggling financially during the coronavirus lock-down may be eligible for financial help from the Government. This is in the form of their recently announced Self-Employed Income Support Scheme (‘SEISS’). However, to remain eligible, you must have filed your 2018/19 Self-Assessment tax return by 23 April. If you miss that deadline, you will no longer be eligible for that Government assistance.

3. Avoid severe fines from HMRC for being so late

The original deadline for submission of your 2018/19 Self-Assessment tax return was actually 31 January 2020. So, if you didn’t already file your tax return by that date, you already owe HMRC a fine of £100 minimum. That’s nothing, though, compared to the penalties they will start charging you after April. From 1 May, you will owe an additional £10 per day, every day from that date if you still haven’t filed your 2018/19 tax return. So, for example, after a week you’ll owe the original £100 plus an additional £70 as a minimum, or the £100 plus a further £140 after two weeks and so on. You may also be charged interest on top of all of that if you owed HMRC a tax payment on the original 31 January deadline and still haven’t paid it.

4. You may be due a tax rebate

Some self-employed people may be due a tax rebate. This depends upon your

CIS Tax Rebates

The Construction Industry Scheme (CIS) is where a construction contractor deducts, at source, a portion of the money due to their subcontractor. Whatever amount is deducted is then passed directly to HMRC which is then counted towards the tax and National Insurance of a subcontractor. This effectively pays the tax element in advance.

How much is deducted will depend on whether or not a subcontractor is registered under the CIS system. Unregistered subcontractors usually get a 30% deduction, while the registered ones get a deduction at the standard rate of 20%. This is one of the reasons that, by the end of the financial year, the amount deducted at source often ends up being overpaid.

But a bigger reason is the fact that the deductions did not factor in the personal allowance that every taxpayer in the UK is entitled to. The personal allowance for the tax year 2018-2019 was £11,850. Because of this overpayment, many subcontractors in the construction industry are due a tax refund.

You can also claim extensively for any work related expenses such as; accountant fees, travel, telephone, tools, clothing, etc.

It is a complex process and to ensure you get the maximum tax rebate let Taxfile help you.  

View our CIS Tax Refund Newsletter HERE