So as accountants it's often said that we solve a problem you didn't know you had in a way you don't understand. Well, it seems the hot issue at the moment is construction workers not receiving the tax rebate they were expecting. Very often those that work in construction have CIS deductions made against their invoices. It's sometimes the case that the deductions come to more than the year end tax and NI and so a rebate is due. The last year or two has seen a fly in the ointment. Namely SEISS grants. These grants were given out in 2020 and 2021. These grants are all taxable income. So whether you are completing your own self-assessment, using us or even a different accountant (and why would you) bear in mind that the SEISS may will need to be taken into account.
- tscrase