WORKING FROM HOME TAX RELIEF
PERSONAL TAX ACCOUNTANTS IN MANCHESTER
Did you know that you could claim back some money in tax reliefs for working from 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).
HMRC will allow you to claim tax relief for the following:
🔅Council Tax 🔅Heating 🔅Lighting 🔅Water 🔅Phone Calls 🔅Broadband
(Not the whole bill though! Just the part that relates to your work)
Further to this, you may also be able to claim tax relief for equipment you have bought, such as a laptop, desk and a chair!
Note: You cannot claim working from home tax relief if you 'choose' to work from home.
HOW MUCH CAN I 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).
HOW DO I CLAIM?
Follow this link to HMRC's website and answer a few short questions and you will be given an answer straight away. You will need your Government Gateway ID.
WE'RE PERSONAL TAX ACCOUNTANTS IN MANCHESTER - GET IN TOUCH FOR A FREE CONSULTATION
We’re here to provide you with the best accounting and financial support you need as business owner.
Reach out to our professional and friendly team at Parker Whitwood Accountants in Manchester using the contact information below.