Quick Answer
As a sole trader subcontractor, the deductions suffered during the year are offset against your Self Assessment liability, and any excess is refunded. Because deductions are taken before…
As a sole trader subcontractor, the deductions suffered during the year are offset against your Self Assessment liability, and any excess is refunded. Because deductions are taken before expenses, most subcontractors end up owed money.
Limited company subcontractors reclaim differently, by offsetting CIS suffered against their PAYE liabilities through the payroll system rather than waiting for a year-end refund. We handle whichever route applies to you.
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