Martin Lewis has exposed a new tax relief deal for those of us who are still working from home due to the coronavirus pandemic. On Thursday, the popular money guru revealed to watchers of The Martin Lewis Money Show how they can claim tax relief simply for not going into the office. The little known tax relief could save workers a sizable chunk of money over a long period.
He said: “If you’re required to work from home and you have extra expenses for doing so and you’re an employee you can claim the working from home tax relief.”
Employees have had the process simplified by HMRC to make the claims process quicker, as many people have been in and out of working in the office throughout the coronavirus pandemic.
This means you can claim the relief even if you are only working at home part-time.
HMRC has said this week: “We recognise that the working-from-home situation is very fluid this year, so we’re accepting claims for the full year’s expenses.
If a claimant believes they have higher increased costs than £6 a week, they can claim more.
However, claimants will need evidence to provide evidence of the cost increases and be able to attribute these specifically to the fact you are working from home.
The relief is not given in cash – HMRC changes your tax code instead, meaning take-home pay goes up.
Published at Fri, 23 Oct 2020 10:09:23 +0000