Making time to manage your taxes isn’t always easy. As a Construction Industry Scheme (CIS) worker, your finances will work differently to a payroll employee which can make matters confusing. But fear not, we’re here to help. Our short guide provides you with all of the information you need about tax returns, as well as the key dates for the year.
When does the new tax year start?
The tax year runs from 6th April to 5th April the following year. Your accounts all need to be calculated according to these dates.
When do I need to file my tax return?
There are two ways to submit tax returns: by paper or online via the HMRC website.
Paper returns will need to be completed and returned to HMRC by October 31st. The deadline for completing returns online is 31st January. This is also the deadline for paying the tax you owe. Failure to submit your returns in time could result in a hefty fine, so it’s important not to miss the deadline.
CIS Monthly Returns
If you’re a contractor who pays subcontractors, you need to send your monthly returns to HMRC each month. These are made for the previous tax month.
For example, if you’re making a return for the month of 6th August to 5th September, it must reach HMRC by 19th June.
One of your responsibilities if you’re enrolled in the Construction Industry Scheme is to submit monthly CIS returns.
Tax dates I need to remember
Here are some important dates to scribble in your diary:
April:
6th: First day of the new tax year.
19th: Deadline for the receipt of CIS monthly return to HMRC by paper.
22nd: Deadline for the receipt of CIS monthly return to HMRC electronically.
May:
19th: Deadline for the receipt of CIS monthly return to HMRC by paper.
22nd: Deadline for the receipt of CIS monthly return to HMRC electronically.
June:
19th: Deadline for the receipt of CIS monthly return to HMRC by paper.
22nd: Deadline for the receipt of CIS monthly return to HMRC electronically.
July:
19th: Deadline for the receipt of CIS monthly return to HMRC by paper.
22nd: Deadline for the receipt of CIS monthly return to HMRC electronically.
August:
19th: Deadline for the receipt of CIS monthly return to HMRC by paper.
22nd: Deadline for the receipt of CIS monthly return to HMRC electronically.
September:
19th: Deadline for the receipt of CIS monthly return to HMRC by paper.
22nd: Deadline for the receipt of CIS monthly return to HMRC electronically.
October:
19th: Deadline for the receipt of CIS monthly return to HMRC by paper.
22nd: Deadline for the receipt of CIS monthly return to HMRC electronically.
31st: Deadline for paper submission of Self-Assessment Tax Returns to be submitted to HMRC.
November:
19th: Deadline for the receipt of CIS monthly return to HMRC by paper.
22nd: Deadline for the receipt of CIS monthly return to HMRC electronically.
December:
19th: Deadline for the receipt of CIS monthly return to HMRC by paper.
22nd: Deadline for the receipt of CIS monthly return to HMRC electronically.
January:
19th: Deadline for the receipt of CIS monthly return to HMRC by paper.
22nd: Deadline for the receipt of CIS monthly return to HMRC electronically.
31st: Deadline for electronic submission of Self-Assessment Tax Returns to be submitted to HMRC.
February:
19th: Deadline for the receipt of CIS monthly return to HMRC by paper.
22nd: Deadline for the receipt of CIS monthly return to HMRC electronically.
March:
19th: Deadline for the receipt of CIS monthly return to HMRC by paper.
22nd: Deadline for the receipt of CIS monthly return to HMRC electronically.
How can Brian Alfred help?
Here at Brian Alfred, we’re always on hand to help you with all of your account and tax needs. Our dedicated team of specialists are here to answer all of your questions and provide all of the information you need. Just visit our contact page or give us a call on 0800 470 1090.
