If you have found yourself working from home due to Covid you may be eligible to claim tax relief. I have attached a link which contains the full details but a quick summary:
You can claim a working at home expense allowance of £6 per week without having to provide evidence/ receipts. If you claim for the full tax year (6 April 2020 to 5th April 2021) that’s 52 weeks x £6, being £312.
The amount of tax relief is based upon the tax rate you pay for the year. This is typically either 20% or 40%.
20% tax on £312 = £62.40 in your pocket 40% tax on £312 = £124.80 in your pocket
Some high earners may be in the 45% bracket increasing the tax relief to £140.40.
This is basically free money you’re entitled to claim if you have had to work from home. You can claim this back online following the links and answering the various questions.
Hopefully this helps increase awareness of what people can claim. I’m not a qualified tax advisor so please do your own research and if in any doubt seek professional advice or speak to HMRC.
Apologies if that has already been posted, I did a quick search but nothing obvious appeared.
Working from home You may be able to claim tax relief for additional household costs if you have to work at home on a regular basis, either for all or part of the week. This includes if you have to work from home because of coronavirus (COVID-19). You cannot claim tax relief if you choose to work from home.
Additional costs include things like heating, metered water bills, home contents insurance, business calls or a new broadband connection. They do not include costs that would stay the same whether you were working at home or in an office, such as mortgage interest, rent or council tax.
You may also be able to claim tax relief on equipment you’ve bought, such as a laptop, chair or mobile phone.
How much you can claim You can either claim tax relief on: * £6 a week from 6 April 2020 (for previous tax years the rate is £4 a week) - you will not need to keep evidence of your extra costs * the exact amount of extra costs you’ve incurred above the weekly amount - you’ll need evidence such as receipts, bills or contracts
You’ll get tax relief based on the rate at which you pay tax. For example, if you pay the 20% basic rate of tax and claim tax relief on £6 a week you would get £1.20 per week in tax relief (20% of £6).
If you have found yourself working from home due to Covid you may be eligible to claim tax relief. I have attached a link which contains the full details but a quick summary:
You can claim a working at home expense allowance of £6 per week without having to provide evidence/ receipts. If you claim for the full tax year (6 April 2020 to 5th April 2021) that’s 52 weeks x £6, being £312.
The amount of tax relief is based upon the tax rate you pay for the year. This is typically either 20% or 40%.
20% tax on £312 = £62.40 in your pocket
40% tax on £312 = £124.80 in your pocket
Some high earners may be in the 45% bracket increasing the tax relief to £140.40.
This is basically free money you’re entitled to claim if you have had to work from home. You can claim this back online following the links and answering the various questions.
Hopefully this helps increase awareness of what people can claim. I’m not a qualified tax advisor so please do your own research and if in any doubt seek professional advice or speak to HMRC.
Apologies if that has already been posted, I did a quick search but nothing obvious appeared.
From the HMRC website gov.uk/tax…ome
Working from home
You may be able to claim tax relief for additional household costs if you have to work at home on a regular basis, either for all or part of the week. This includes if you have to work from home because of coronavirus (COVID-19). You cannot claim tax relief if you choose to work from home.
Additional costs include things like heating, metered water bills, home contents insurance, business calls or a new broadband connection. They do not include costs that would stay the same whether you were working at home or in an office, such as mortgage interest, rent or council tax.
You may also be able to claim tax relief on equipment you’ve bought, such as a laptop, chair or mobile phone.
How much you can claim
You can either claim tax relief on:
* £6 a week from 6 April 2020 (for previous tax years the rate is £4 a week) - you will not need to keep evidence of your extra costs
* the exact amount of extra costs you’ve incurred above the weekly amount - you’ll need evidence such as receipts, bills or contracts
You’ll get tax relief based on the rate at which you pay tax. For example, if you pay the 20% basic rate of tax and claim tax relief on £6 a week you would get £1.20 per week in tax relief (20% of £6).