How to claim CIS Credits
HMRC Update on CIS Credits
In February 2018 HMRC reminded businesses that if they are owed CIS Credits for 2016/17 or earlier years these won’t automatically be set against PAYE liabilities for 2017/18.
Instead, they will have to make a claim and specify what they want done with it, for example:
- You can choose to set them against VAT, corporation or income tax liabilities.
- If you have no tax liabilities, you can claim a refund.
The easiest way to allocate your CIS credits or obtain a refund is online using the CIS Repayment iForm.
You should use HMRC’s iForm to allocate which tax liabilities, not just PAYE, you want them set against, or claim a refund.
Please see the HMRC website for more details.