If you have suffered deductions from your income its generally reclaimed
- The Self Employed enter the CIS suffered on their self assessment return, its then part of their tax calculation
- Companies reclaim via their Payroll – Companies can also offset
Construction Industry Scheme: a guide for contractors and subcontractors (CIS 340) – GOV.UK (www.gov.uk) – Section 4.13
Companies that have deductions taken from their income as subcontractors should set-off these deductions against the amounts payable monthly or quarterly for PAYE, National Insurance contributions and Student Loan repayments due from their employees and CIS deductions from their subcontractors. This should be done monthly (or quarterly, as appropriate) and the calculation should be shown on the company’s EPS.
Companies should simply reduce the amount of PAYE, National Insurance contributions, Student Loan repayments and any scheme deductions they pay over to our accounts office by the amount of CIS deductions made from their income.
CIS132 – Construction Industry Scheme (publishing.service.gov.uk)
The CIS132 is used to keep a record of the offsets, you could create a spreadsheet to keep these records.
