CIS Tax Rebate Calculator
Use this handy calculator to see your tax rebate. Tax Paid or Earnings will be calculated at 20%.
Calculate
Typical subcontractor expenses could be :-
2000 - Vehicle Costs (tax,insurance,mot,maintenance,hp/loan) assuming 100% business use
2500 - Diesel/Petrol (50 p/w)
1500 - Food (6.00 p/d)
500 - Tools
250 - Laundry (5 p/w assuming launderette)
200 - PPE (boots, high viz, masks, goggles, ear defenders)
150 - Mobile Phone
120 - Home Office (10 p/m)
Total - 7220.00
It is straightforward completing your tax return online and takes about 20 minutes. Your rebate is usually paid into your account within 5 working days. You must first register with HMRC
Here
and enroll for Self Assessment. It can take up to a week for your activation code to be posted to you.
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