HMRC allows employed individuals to claim tax relief if you are required to pay for things that you require for your job.
You must have paid tax in the year and the tax relief you will receive will be based on what you’ve spent and the rate of tax you pay. For example if you spent £1,000 and pay tax at 20% your tax relief would be £200.
You are able to backdate this claim for up to 4 tax years and customers average a refund of £750 per tax year.
The specific laws allowing for this relief can be found within the Income Tax Earnings and Pensions Act 2003.
What you can claim for depends on your circumstances. If you are employed and are required to pay for a work uniform, PPE, Tools & equipment, training or lodging you are entitled to the taxable element of your total costs to be refunded.
In order to claim for travel including driving, public transport and food and drink you will be required to be working at “Temporary Workplaces”. HMRC defines a temporary workplace as a site or building which an employee attends for a length of time which lasts, or is expected to last, for less than 24 months.
Firstly we gather some basic information and will require some documents to be signed electronically to allow us to act as your tax agent with HMRC.
We will then gather your income and expense information ensuring we are maximising any and all tax reliefs you are entitled to. Your refund will be calculated and sent for your approval. We will submit all required documentation to HMRC and release payment to you once approved by HMRC
We will require a signed 64-8 form. This will be sent to you via email and authorises us to act on your behalf with HMRC.
We will also require your end of year income figures for all employments you held in the tax year, these must be reported to HMRC along side your expenses. If you do not have your original P60’s, P45’s or payslips these can be viewed online via your personal tax account with HMRC or we can ask HMRC to post you this information.
How long a refund will take to reach you depends on a number of factors. If you already have a UTR number and are, or have previously been in self assessment refunds can take between 3-6 weeks to be paid.
If this is the first time claiming via self assessment it can take longed as we will need to wait for HMRC to issue your UTR number. This can add an additional 2 – 6 weeks to the process dependant on HMRC time scales.
Self assessment tax returns are not just for self employed individuals and are in fact used to allow tax payers to report undeclared income and expenses to HMRC. We will take care of everything from opening your self assessment, filing it and closing it when we are done if you don’t wish to claim again in the future.
Being in self assessment will not change the way you are taxed or affect your employment in any way
We operate on a no win no fee basis. Our fees are charged at 30% + vat of the total refund generated with no additional hidden costs.
