TaxRefundsRUs is delighted to announce the launch of its CIS tax calculator. The easy to use calculator helps users to work out how much tax they could be owed by HMRC.

You just need to click on the orange “Calculate Your Refund” box, adjust the sliders and select your tax rate.

Turnover

The first slider is turnover. This is the amount of money you (or your business) has taken in the current financial year (1^st April 2017 – 5^th April 2018). To get a truly accurate result you should only base this figure on the income records you have. If you are missing records, we can chase them free of charge, if you use our tax refund service.

Estimated percentage of expenses

To estimate your percentage of expenses you’ll need to know the total amount of your expenses. Then just move the slider until “Value of expenses matches” the total amount of your expenses. Again, for this to be accurate you should only count expenses you have records for.

Are you taxed at 20% or 30%

If you are registered on the Construction Industry Scheme (CIS) for tax you will be taxed at 20%. You might be taxed at 30% if; you are not registered on the scheme, your contractor can’t verify you or you’ve given the wrong name for your business. If you’re not sure if you are taxed at 20% or 30% call us on 0208 561 8388 and our advisors will be able to help.

CIS Tax Calculator Result

Once you select a tax rate, our calculator will automatically calculate your refund based on the information you’ve provided. If you want us to claim your refund for you just click “Claim Now”, enter your details in our registration form and one of our advisors will contact you at a time to suit you.

TaxRefundsRUs clients get an average tax refund of £2,004*

There are no up-front fees as we don’t charge you until you get your refund. We pay your refund within 3 working days and can advance you up to £500 whilst you wait.