4 September 2012: Thousands of builders could be in line for a pre-Christmas bonus owed to them by HM Revenue & Customs (HMRC) in tax rebates.
That’s the view from tax specialist firm Refunds Direct which is advising those involved in the industry to look at their own personal circumstances to see if they will be adding extra items to their Christmas list this year.
Having helped construction sector workers reclaim cash owed to them by the taxman, refunds average £1,300 and means those who act now and complete the required forms by 3 October could be looking at replacing big ticket tools or putting down a deposit on a new van in time for 2013.
Managing director Carrie Large said: “If construction sector workers act now there should be just enough time to see any monies they are owed in their bank in time for Christmas.
“Nobody enjoys seeing their hard-earned cash going to the taxman and the average refund figure will go a long way toward replacing much needed equipment.
“With our rebate service we’ve dispelled an industry-wide myth that asking a few perfectly reasonable questions on what you should be paying could result in a bill from HMRC.
“The truth is that around four out of ten construction workers who took the plunge and answered our free tax check discovered they were owed money, typically up to £1,300.”
Having taken up more than 5,000 cases Refunds Direct has claimed back refunds topping £5m. Carrie said builders were notoriously reluctant to lift the lid on their tax liabilities and this meant thousands were missing out on monies owed to them.
She added: “A tax windfall like that could help builders buy larger items of equipment outright rather than have to go to the bother of hiring them.”
Carrie said the free tax review took moments to complete, with the average time between completing the review, submitting a claim and receiving any refunds due taking around three months.
The registered HM Revenue & Customs tax agents hold the necessary claims management licence for pursuing financial refunds. Covering the last fours years its free tax review examines PAYE income, Construction Industry Scheme (CIS), expenses and Jobseeker’s Allowance (JSA).
For further information please call 0800 107 7188, text REFUND to 60777 or visit www.refundsdirect.co.uk