About Tax overpayment
How does overpayment arise?
When you are working as a self-employed worker under CIS, contractor deducts 20 per cent or 30 per cent from your earnings that is being paid to HMRC. Please note, 30 per cent deduction is applied only to those workers who are not registered under CIS with HMRC. When deductions are made, contractor ignores your Personal allowance and any expenses suffered, only your tax declaration takes all factors into account and reflects real tax position - overpayment or underpayment of tax. You might think that if you get tax deducted from your pay you will always get a tax refund - you are mistaken, you might end up paying to HMRC if your profits are above 40 per cent income tax threshold.
By trusting our team with your tax declaration you will be able to relax and be sure that all steps will be taken to ensure declaration is submitted according to the UK laws and regulations.