The form should include details of the overpaid CIS tax and the period for which the refund is being claimed. If the limited company has overpaid CIS tax, it can claim a refund by completing form CIS307 and submitting it to HMRC. Once the monthly CIS return has been submitted, HMRC will provide the limited company with a statement of account, which shows the CIS deductions made and any overpaid CIS tax. This can be done online using the HMRC's CIS online service or by completing a paper return.
Submit a monthly CIS return to HMRC, which includes details of payments made to subcontractors and the CIS deductions made. You should use form CIS132 to keep your own records. This can be done by using the CIS deductions worksheet provided by HMRC or by keeping a record of payments in accounting software. Keep accurate records of payments made to subcontractors, including the CIS deductions made. This will provide the company with a unique CIS reference number, which will be required for all CIS-related activities.
Register for CIS with HM Revenue and Customs (HMRC) by completing form CIS301.
