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HMRC have refined the way they handle construction industry scheme (CIS) repayments, following work by joint initiative on the tax authority’s service delivery.
The Revenue aims to process CIS repayment claims within 25 working days or less from the date of receipt, provided the information sent – by mail or online – matches that held by the department.
Part repayments will be made based on verified amounts while mismatches are discussed with the taxpayer company
HMRC have refined the way they handle construction industry scheme (CIS) repayments, following work by joint initiative on the tax authority’s service delivery.
The Revenue aims to process CIS repayment claims within 25 working days or less from the date of receipt, provided the information sent – by mail or online – matches that held by the department.
Part repayments will be made based on verified amounts while mismatches are discussed with the taxpayer company
HMRC will set off a firm’s CIS repayment against a corporation tax or VAT debt as long as the reimbursement covers the full amount outstanding, and the company tells the Revenue team chasing the debt that a claim for repayment has been issued.
The taxman will stop the recovery of a debt if both conditions are met, to allow time to process the repayment claim and allocate it to the debt.
The Revenue has also updated its guidance on how limited company subcontractors should reclaim deductions taken from payments under the CIS.
