Figures from tax recovery specialist Brian Alfred have revealed that workers using the Construction Industry Scheme (CIS) or Pay as You Earn (PAYE) scheme have reclaimed rebates of over £5.7m 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,” said Derek Kelly, CEO at Brian Alfred (pictured above).
- DFT Roundtable: Mezzanine finance, joint ventures and equity
- London councils express concern over development tax
- Mayor of London calls for higher council tax charges on empty homes
“Around a third of workers on PAYE and CIS schemes are overpaying tax, but often don’t reclaim money which is rightfully theirs.”
Since Brian Alfred was established in 2005, it has recovered more than £36m in overpaid tax.
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.”
Construction workers in Northern Ireland received the most in tax rebates with £1,979, followed by the South West (£1,728) and Greater London (£1,713).