Rebate & Return Specialists
Each year thousands of people across the UK are eligible to claim back tax from HMRC. There are a number of reasons why you could have overpaid it or be due a tax rebate. Claiming a rebate couldn’t be any easier. If you meet any of the criteria below, then you are more than likely due a tax rebate. You will be able to claim for the current year and the previous four years.
Which rebates can I claim?
If you wear a uniform with a logo or specialised clothing to work, and have to wash it at home, you could be due a rebate. HMRC have agreed that you can get relief on the cost of cleaning, repairing or replacing a uniform. You must be required to wear it for work, it must be a recognisable uniform and you must have to launder it yourself with no contribution from your employer. A uniform rebate can be backdated for four years.
Car Mileage Allowance
If you are required to use your own car for work duties and your employer doesn’t reimburse you, you could claim a car mileage allowance from the HMRC. Some employers may provide mileage relief for employees; it varies from company to company. For the current year you can claim it back on 45p per mile for business, and we can go back up to four years. On average, a mileage rebate is £1500.
Tools Tax Allowance
If you buy your own tools, specialist equipment or clothing for work then you can claim a tools allowance rebate from the HMRC. If your employer doesn’t provide any compensation for the purchase of tools then HMRC allows you to claim back a rebate on these products. Tools allowances can be claimed for the last 4 years. You are also allowed to claim on professional subscription fees. Also, if you work away from home occasionally you can claim back for any meals, hotel bills and business phone calls. On average, a tools claim is £1300.
Did You Know
Tools and mileage claims regularly require self-assessments for each year you are claiming. A good rebate firm will include this as part of its service
Working from Home Rebate
If you are required to work from home occasionally, then you could be entitled to as much as £676.
You can claim for any business expenses incurred when you work from home such as extra heating or electric, HMRC does not allow any domestic expenses to be claimed such as mortgage or council tax.
Company Accounts and Individual’s tax returns
Whether you are a company or an individual HMRC needs to know your financial circumstances. The information they gather confirms the level your tax liability.
If you are an individual employee on Pay As You Earn this is calculated automatically and tax deducted at source. With Self-Employed people, and some employed people, they need to report their income to HMRC on an annual basis. This is called a self-assessment
The information on a self-assessment will determine how much tax you have to pay HMRC. The skill in completing a self-assessment is knowing what you are allowed to claim for. By maximising the amount your claim for, you can minimise your tax liability
Did You Know
You can include in your self-assessment, the cost of employing someone to do it as an expenditure, reducing the amount of tax you pay?
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Did You Know
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Did You Know
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