What are CIS refunds and am I eligible to receive one?
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The document discusses CIS refunds and eligibility for subcontractors working in the construction industry. It explains that the CIS is a scheme where contractors deduct money from subcontractor payments for taxes and National Insurance. Subcontractors may be eligible to claim a refund if they have paid too much tax or National Insurance for a given year. The summary provides an overview of key points about CIS refunds, including how to claim one, typical processing times, and eligibility requirements for limited company subcontractors.
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This document provides information on 2021 tax planning strategies for individuals and businesses. It discusses the difference between reactive tax preparation and proactive tax planning. The stages of effective tax planning include planning, implementation, quarterly maintenance, and tax return preparation. Various tax planning strategies are outlined for deferring or accelerating income, bunching deductions, maximizing retirement contributions, checking IRA distribution requirements, converting traditional IRAs to Roth IRAs, and reducing Roth conversion taxes. Year-end tax planning considerations for businesses include employee retention credits, net operating loss carrybacks, and research and development cost deductions and amortization.
Payroll Webinar: Tax Levies and Creditor Garnishments: What Payroll Must Know...
This webinar concentrates on processing garnishments in the payroll department other than child support. It covers the federal rules for creditor garnishments, the IRS rules for federal tax levies, the various aspects of state tax levies, the key points for processing state creditor garnishments, how to handle voluntary wage assignments such as payday loans and student loans. It includes best practices for reconciling and processing the garnishments in the payroll department. Sample memos for communicating with the employee concerning garnishments are included. The IRS Form 668-W is reviewed.
Annuity owner mistakes
http://ekinsurance.com/financial/what-are-annuities/
Annuities can be a great way to make your money work, but many people may not understand the risks, rewards, or the workings of their annuities.
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The Construction Industry Training Board (CITB) must keep a register of employers that are entirely or primarily engaged within the construction industry. Once a company is registered, it is legally required to file annual Levy Returns wherein it must provide details of wage bills for the assessment of levy liability.
Horner Downey & Co Tax Matters Newsletter
This document provides summaries of key tax and business issues in the UK, including updates on COVID-19 support measures. It discusses the Coronavirus Job Retention Scheme, how to make best use of it, rebates for statutory sick pay, delays to IR35 private sector reforms until 2021, and changes to National Insurance contribution limits and thresholds for 2020/21 that may reduce payments for many. It advises seeking professional tax advice during this challenging time and offers contact information for an accounting firm to help navigate tax issues.
Horner Downey & Co Tax Matters Newsletter
This document provides summaries of key government support programs and tax changes in response to the COVID-19 pandemic. It discusses the Coronavirus Job Retention Scheme, self-employment income support, business loan schemes, deferred tax payments, commercial rent protections, and changes to national insurance contributions. The advisor expresses their availability to help navigate these changing policies and offers reassurance during this difficult time.
Six Strategies to Help Retirees Reduce Taxes
http://ekinsurance.com/financial/retirement/
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Payroll Webinar: The A to Z of Garnishments Part 3
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Payroll Webinar: Tax Levies and Creditor Garnishments: What Payroll Must Know...
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What is the citb levy for construction industry organisations?
What is the citb levy for construction industry organisations?
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Claim Tax Relief For Working From Home Due To COVID-19
Anyone who has worked from home during the pandemic may be eligible for tax relief up to £125 a year even working for one day from home.
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When it comes to running your own business, making sure you have your accounts in order is key. It is also essential to submit any tax returns to HMRC on time. Whether it is the simple end of year accounts for sole traders or more complex tax reporting for Limited Companies, this is an area you must get to grips with. You may have also heard of HMRC selecting certain businesses for a tax investigation after returns are sent in. This basically sees inspectors look through your records to verify that your returns are correct. Needless to say, any discrepancies can prove very serious. But why might your business be chosen for a tax investigation?
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Everything you need to know about super-deduction relief
Everything you need to know about super-deduction relief
Everything you should know about the Health and Social Care Levy
Everything you should know about the Health and Social Care Levy
Everything you need to know about universal credit
Everything you need to know about universal credit
Claim Tax Relief For Working From Home Due To COVID-19
Claim Tax Relief For Working From Home Due To COVID-19
Why might HMRC start a tax investigation into your business?
Why might HMRC start a tax investigation into your business?
3 handy tips for looking after small business payroll
3 handy tips for looking after small business payroll
What are CIS refunds and am I eligible to receive one?
- 1. Member Firm CIS REFUNDS AND ELIGIBILITY WEEK03 Continue reading at page 2 � Copyright Taxcare Accountancy Ltd 2021. Tax Advice That Helps Your Business Grow The world of contracting and subcontracting can be complicated enough without the complex matters of tax introduced. WHAT ARE CIS REFUNDS AND AM I ELIGIBLETO RECEIVE ONE
- 2. Member FirmPage 2 of 4 - Taxcare Accountancy Newsletter Tax Advice That Helps Your Business Grow If you work in the construction sector, you have likely heard of something called the Construction Industry Scheme, commonly abbreviated as CIS. We'll be answering some of the commonly asked questions about CIS, including what it is and the eligibility criteria to receive a CIS refund. WHAT IS THE CIS? The CIS is a scheme through which contractors deduct money from the payments made to a subcontractor; these deductions are then passed on to HMRC and are counted as advanced payments towards the subcontractor's annual tax and/or National Insurance. IS ENROLMENT IN THE CIS COMPULSORY? This depends on whether you are a contractor or a subcontractor. Contractors are legally obliged to join the scheme; subcontractors are not required to, but they will face higher deductions without joining the scheme. CIS REFUNDS AND ELIGIBILITY WEEK03
- 3. Member FirmPage 3 of 4 - Taxcare Accountancy Newsletter Tax Advice That Helps Your Business Grow CHOOSE TAXCARE ACCOUNTANCY If you require assistance from a team of chartered certified accountants and tax advisors on a range of matters including CIS refunds, Universal Credit, benefits, and more, look no further than Taxcare Accountancy. We deliver excellent client communication, honest advice, and reliable financial solutions. HOW CAN I CLAIM A CIS REFUND? There are many ways that you can claim a CIS refund. The quickest and simplest way to claim a CIS refund is online, but postal claims are also an option if you would prefer to fill out the forms by hand. HOW LONG DOES A CIS REFUND TAKE? The time for a CIS refund to be processed varies from case to case. On average, you can expect your CIS refund claim to be processed and awarded in between 1-8 weeks. This depends on the time of year that you process your claim; for example, the end of the financial year may take longer to process. AM I ELIGIBLE FOR A CIS REFUND? If you are a limited company subcontractor, you may be entitled to receive a refund. A refund claim can be made if you believe you have paid too much National Insurance or tax for any given year. CIS REFUNDS AND ELIGIBILITY WEEK03 Find contact details in the last page.
- 4. Member Firm� Copyright Taxcare Accountancy Ltd 2021. Tax Advice That Helps Your Business Grow 103 Cranbrook Road, Ilford, Essex, IG1 4PU 020 8478 3383 078 6022 4506 info@taxcareaccountancy.co.uk find out more www.taxcareaccountancy.co.uk