Construction Workers Claim Back Millions in Tax

Construction Workers Claim Back Millions in Tax

According to figures from tax recovery specialist Brian Alfred, almost £6 million in overpaid tax has been claimed back by UK construction workers this year. The leading tax recovery firm for workers using the Construction Industry Scheme (CIS) or Pay As You Earn (PAYE) schemes, has reclaimed rebates of more than £5.7 million in the last 12 months.

“It’s been another big year for rebates, with almost six million reclaimed for our clients, and to be honest that’s the tip of the iceberg. Around a third of workers on PAYE and CIS schemes are overpaying tax, but often don’t reclaim money which is rightfully theirs,” said Derek Kelly, CEO of Brian Alfred.

Brian Alfred has broken down the average rebate claim by region over the last 12 months and it found out that Northern Ireland came out on top with £1,979 received from HMRC as a result of overpaid tax. Northern Ireland was followed by South West with £1,727, Greater London with £1,712, Wales with £1,706, North West with £1,683, South East with £1,681, Scotland with £1,678, East Midland with £1,635, North East with £1,635 and West Midlands with £1,631.

Since Brian Alfred started they’ve recovered more than £36 million in overpaid tax and Derek added: “Workers often forget to claim back expenses such as travel, uniforms and equipment they’ve had to purchase or even food bought during their working day. There’s a huge range of work expenses where you can claim back the VAT and end up with a nice windfall. On average, workers who come to us recover around £1,500 in tax rebates. This year though we saw some rebates as big as £10,000!”

Workers who are either part of the Construction Industry Scheme (CIS) or Pay As You Earn (PAYE) are all eligible to apply and rebates can be claimed for the last four tax years. “You can claim refunds for a range of things, but regulations are complicated, and it can take an expert to get the correct amount of rebate from the HMRC,” Derek added.

Construction Workers Claim Back Millions in Tax
Facebook
Twitter
LinkedIn
Pinterest

Latest Issue

Construction Workers Claim Back Millions in Tax
BDC October 2022 issue - 297

Related Articles