Back in December I did a Blog about how to make your claim http://stevejbicknell.com/2011/12/20/how-to-claim-tax-relief-for-employment-expenses/
But many employees don’t seem to realise that they could be entitled to Flat Rate Expenses
If you have to spend money on tools or specialist clothing for your job you may be entitled to either:
- tax relief for the actual amounts you spend
- a flat rate deduction
Flat rate deductions are amounts that HM Revenue & Customs agreed nationally – or sometimes locally if conditions are very different – with trade unions or other bodies.
The deductions cover what’s typically spent each year by employees in different trades. For example, someone working in the clothing industry can get a deduction of £60 each year. A cabinet maker can get a deduction for £140 while the deduction for a stone mason is £120.
You don’t have to be a member of a trade union to get the deduction. You’ll also benefit from less paperwork – you won’t have to keep a record of all the individual amounts you spend.
There is a full list of the Flat Rates at
http://www.hmrc.gov.uk/manuals/eimanual/EIM32712.htm
For example, I am the FD of SCA Group, we employ Scaffolders and the rate for Scaffolders is £140 per year, at 20% tax that means £28 as a tax refund.
steve@bicknells.net
