In terms of how it works, the principles are quite simple however the application of the process can be technical. To summarise, as a self employed individual you are required to account for your profits or losses by showing your income and then having that cross calculated against any work or business related expenses that you have occurred throughout your trading year.
Most people either do this themselves or have an accountant do it for them. Both approaches are perfectly acceptable however the end figures are then presented each year on a
self employed tax return. This then allows HMRC to determine your tax liability, or hopefully, any tax rebate self employed category you may have fallen into.
However we find, quite simply that in eight or nine cases out of ten, when we take on a new client, despite that client having either done their own
self employed tax return or
CIS tax return, or indeed hired an accountant to do it for them, when we look at their tax profile they have picked up penalties simply due to not submitting their returns on time.
Our service is bespoke and specific. We appoint a single tax agent, focusing entirely on all matters tax rebate self employed to look after you from start to finish. That agent will look into every aspect of your taxes going back FOUR YEARS. Apply the HMRC approved expenses allowance that is available to your situation and then re apply them to that FOUR YEAR period. Once complete we then submit our findings to HMRC and within approximately 4 to 8 weeks this will hopefully produce a
self employed tax rebate, or if you are under the CIS scheme a
CIS tax rebate. Our average payout is £2000 to £5000 for tax rebate self employed however all tax rebates if due are different dependant on situation.