Uk news HMRC urges people working from home to claim £62 tax break for whole year PremierLeague-News.Com
MetiNews.Com - If your employer asks you to work from home for just one day you could be eligible for between £62 and £125.
Breaking News ! HM Revenue and Customs (HMRC) has confirmed it is accepting tax relief claims for Scots working from home due to coronavirus during 2021/22. More than 550,000 employed workers have already claimed and received tax relief worth between £65 and £127 for the current financial year. HMRC says that if employed workers have been told to work at home by their employer because of coronavirus and, as a result, their household utility costs have increased, they are eligible to claim the working from home tax relief via HMRC’s online portal. HMRC received more than three million claims across the UK for the tax relief for the 2020/21 tax year. Working from home for just one day could give you a huge tax break (Image: Getty Images) Myrtle Lloyd, HMRC’s Director General for Customer Services, said: “Half a million people have already reduced their Income Tax this year by up to £125, by claiming tax relief on their working from home expenses. “We want everyone who’s eligible to benefit, so we’ve made it quick and easy to do online. “HMRC is continuing to help and support people affected by the pandemic.” From April 6, 2020, the amount employers have been able to pay tax-free without employees having to provide evidence of an increased bill is up to £6 a week. Employees who have not received the working from home expenses payment directly from their employer can apply to receive the tax relief from HMRC here. Latest HMRC News SEISS 4 open to all eligible claimants Claim £62 tax break for homeworking SEISS 4 eligibility checks in full HMRC warning to Tax Credit claimants How is tax relief calculated? Eligible customers can claim tax relief based on the rate at which they pay tax. For example, if an employed worker in Scotland pays the basic 20% rate of tax and claims relief on £6 per week, they would receive £1.20 a week in tax relief (20% of £6 a week). For those paying the intermediate 21% rate of tax and claiming tax relief on £6 a week, they would receive £1.26 a week (21% of £6 a week) towards the cost of their household bills. Higher rate taxpayers would receive £2.
. Over the course of the year, this could mean customers can reduce the tax they pay by £62,£65.52 or £127.92 respectively. How to claim tax relief To claim for tax relief for working from home, employees can apply directly via GOV.UK for free here. Once their application has been approved, the online portal will adjust their tax code for the 2021/22 tax year. They will receive the tax relief directly through their salary until March 2022.
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How to claim tax break for 2020/21 If employees were required to work from home last year but did not claim for the tax relief, they have not missed out - HMRC will accept backdated claims for up to four years. They will receive a lump sum payment for any successful backdated claims. Check if you’re eligible for the tax break and apply at GOV.UK here. Get the latest money-saving and benefits news sent straight to your inbox. Sign up to our weekly Money newsletter here.
Source = PremierLeague-News.Com