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!

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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

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