Tools.

danny87

I work as a panel beater and have recently finished my apprenticeship which lasted 4 years , in that time I have needed tools and bought them . I will almost certainly always be buying tools every year as my job will always change as cars change , I'm wondering is there any rebate or tax deduction available for some-one in my position I'm not self employed , does this make a difference ? Thanks.:D

fengirl_2

Go to the HMRC website and search for fixed rate deductions. Looks for your job there. There will be a fixed rate expense allowance for your trade. Write to your tax office asking for this allowance for the past 4yrs. Ask for a refund by checque, not a code change for past years.
If you have replaced tools in any year which exceed the amount of the allowance, you can also claim that amount on top, but be prepared to produce receipts if asked.

TM1976

Here is the list of flat rate allowances : http://www.hmrc.gov.uk/manuals/eimanual/EIM32712.htm

These amounts are what the flat rate scheme determines you will have spent for each year. As Fengirl says if you spent more you can claim more than the flat rate allowance.

I agree with Fengirl that you should keep the receipts but you don't have to have the receipts to claim just a record of expenditure which you can put together retrospectively, it may even be possible to claim on the basis of a reasonable estimate. If you make a claim for a higher amount and HMRC don't agree you can then fall back on the flat rate allowance (unless this is more money than you spent, then you should claim the flat rate).

danny87

thanks for the help guys :T