Cash professional Martin Lewis has warned time is working out to assert.
Martin Lewis is warning time is working out to assert (Picture: ITVX)
Cash professional Martin Lewis has urged anybody who wears a uniform to work to assert a £60 allowance earlier than Monday.
Returning on the newest episode of The Martin Lewis Cash Present Stay on Thursday, March 26, Martin defined that the tax yr is quickly drawing to a detailed, with the ultimate day of this present tax yr touchdown this Sunday (April 5).
It implies that not solely are a number of tax modifications set to kick in from Monday, similar to refreshed Money ISA limits, tax will increase on sure taxes and new financial savings allowances, however one previous tax yr, 2021-22, will now not be out there for backdated claims.
Staff are capable of declare sure tax allowances from HMRC and these may be backdated for as much as 4 years. From Monday, April 6, the 2021-22 tax yr will change into 5 years in the past, that means you’ll now not be capable to make any backdated tax claims for that yr.
One such tax declare you possibly can nonetheless backdate for that tax yr between now and Monday is a tax aid for job bills regarding carrying a uniform.
Talking on the newest episode of The Martin Lewis Cash Present Stay, Martin stated: “Do you put on a uniform to work? For instance a branded T-shirt or one thing, in that case you possibly can declare a tax rebate by way of a P87 type.
“Should you wash or restore the uniform your self you shouldn’t and don’t have to pay anybody to do it.
“The minimal allowance is £60 a yr so it’s solely a £12 a yr acquire, as a fundamental fee taxpayer, £24 increased tax, however [with] some professions the allowance is way increased.”
The federal government’s tax steering units out: “You’ll be able to declare tax aid for a uniform. A uniform is a set of clothes that identifies you as having a sure occupation, for instance nurse, or police officer.
“You might also be capable to declare for specialist clothes you want for work, even when it doesn’t determine you as having a sure occupation, for instance overalls or security boots.
“You can not declare tax aid for:
the preliminary value of shopping for clothes for work
cleansing, repairing or changing on a regular basis clothes you put on for work (even in the event you should put on a sure design or color)
the price of laundering your individual uniform or specialist clothes in case your employer offers a free laundering service, and also you select to not use it
“You’ll be able to both declare:
the precise quantity you’ve spent
an agreed fastened quantity (a ‘flat fee expense’ or ‘flat fee deduction’)
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“Test in case your job has an agreed flat fee expense.
“You’ll be able to declare for the present tax yr and the 4 earlier tax years.”
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