CIS - What Expenses Can You Claim In Your Construction Business? (CIS Series 4)

CIS - What Expenses Can You Claim In Your Construction Business? Attention all construction industry professionals! Curious about what expenses you can claim in your business? Welcome to our informative video on understanding the expenses you can claim in your construction business. In this video, we delve into the various categories of expenses that are eligible for claims, providing valuable insights to help you optimize your financial management. From material costs and labour expenses to tools and machinery, subscriptions and trainings, insurance, salaries, and even tax-efficient vehicles, we cover it all. Discover how to make the most out of your expenses and potentially save money on your taxes. If you're a construction business owner or contractor operating under the CIS, this video is a must-watch. Learn how to make the most of your allowable expenses, minimize tax liabilities, and maximize your business's financial potential. MDH Accountants is an award-winning firm based in Accountants Surrey and Accountants London. Our Director, Michael Hemme is known as the Wealth Whisperer! If you like this video, don't forget to Subscribe to our channel! Watch our 3 Business Strategies video here: https://youtu.be/8DrczZUkEfc Time Stamps: 00:00 - Intro 00:29 - What kind of material costs can you claim? 00:54 - Are you allowed to claim for labour expenses? 01:29 - Other direct costs you can claim expenses for 02:05 - Tools and machinery - can you claim expenses for these? 02:53 - Did you know you can claim expenses for subscriptions and trainings? 03:21 - 3 types of insurance for construction companies 04:04 - Claim expenses for your salary 04:38 - What type of vehicle is more tax efficient for your construction business? 05:17 - Do you have admin support within your construction business? 05:57 - You can also claim trivial benefits 06:15 - Other overhead expenses you can claim for 06:49 - You can claim for annual team events 07:17 - Charity donations get a full deduction of corporation tax Contact Us & Book a Meeting Calendly: https://www.mdh.me.uk/book-call/ Business Growth Book https://www.mdh.me.uk/get-your-copy-of-our-book/ Tax Saving: 74 Ways To Pay Less Tax https://www.mdh.me.uk/74-ways-to-pay-less-tax/ Funding: A Free Guide for Business Owners in The UK: https://www.mdh.me.uk/funding-guide-uk-business-owners/ ___________________________________________________________ Say Hi on Social Media: Facebook: https://www.facebook.com/AccountantsLondon Linkedin - Michael: https://www.linkedin.com/in/michaelhemme/ LinkedIn - MDH: https://www.linkedin.com/company/mdh-business-advisers-limited/ Instagram: https://www.instagram.com/mdhaccountants/ TikTok: https://www.tiktok.com/@mdh_accountants #ConstructionIndustry #ConstructionIndustryScheme #ExpensesYouCanClaim Content ID Code EBVDODRLBAIBPJ68 https://youtu.be/Ovc0EcUgTSY