HMRC urges millions across UK to claim £ 500 for free before it’s too late – .

0
16
HMRC urges millions across UK to claim £ 500 for free before it’s too late – .


Millions of people across the UK could be eligible to claim up to £ 500 if they worked from home during the pandemic.
Returning employees are reminded that it is not too late to claim tax relief on their household expenses for this tax year.

READ MORE: Tesco to charge £ 99 deposit for gasoline at the pump

Nearly 800,000 people have already filed claims that can be backdated by four years, reports the Manchester Evening News.

HM Revenue and Customs (HMRC), which released figures from its online complaints portal, said the saving was £ 125 per year per employee, for a total maximum claim of £ 500.

To get the latest email updates from Yorkshire and direct Click here .

Eligible workers can claim the right for the entire year if they have been invited to work from home by their employer, even if it was only one day in the tax year.

The new fiscal year began on April 6, with over three million tax relief requests already received for fiscal year 2020/21.

People can check if they can make a complaint at www.gov.uk/tax-relief-for-employees/working-at-home.

Myrtle Lloyd, general manager of customer service at HMRC, said: “More and more people are returning to the office to work now, but it is not too late to ask for tax relief on household expenses if they have. worked from home during the pandemic. “

As of April last year, the maximum amount employers could pay tax-free without employees having to provide proof of a higher bill has been set at £ 6 per week.

Although we spend more time at home, it is important to make sure that you are getting the best deals from your suppliers.

Save on energy bills – Sign up for LookAfterMyBills. The free services automatically switch you to the cheapest energy company, saving you up to £ 290. You can also use MoneySupermarket to compare switching services.

Reduce TV costs – Check your TV and broadband bills. Sky usually offers deals and discounts when you renew your contact and this can potentially lower your bills. If you are on BT or Virgin, you can do the same.

Change and save – Uswitch offers simple, hassle-free switching and savings at often exclusive rates. It takes a few moments and can save you up to £ 216 per year.

Employees who have not received payment for work-at-home expenses directly from their employer may apply for HMRC tax relief.

For example, if a salaried worker pays the base tax rate of 20% and claims tax relief of £ 6 per week, they will receive £ 1.20 per week of tax relief (20% of £ 6 per week) to cover the cost of her household. invoices. Higher rate taxpayers would receive £ 2.40 per week (40% of £ 6 per week).

Over the course of the year, this means people can reduce the tax they pay by £ 62.40 or £ 124.80 respectively.

The HMRC said it would accept backdated requests up to four years and people could receive a lump sum payment for any successful backdated requests.

Download the YorkshireLive app to personalize the news that interests you and get the latest updates first.

LEAVE A REPLY

Please enter your comment!
Please enter your name here