Finance-industry tax allowances/deductions

Coeus

Hi all! Thought I might give the tax man a little squeeze in this new tax year and am looking for some advice or experiences from finance-industry related workers?

Apart from professional subscriptions, can one get tax deductable allowances for other items of expenditure not paid by your employer?

For example dry cleaning costs for worksuits (if expected to wear for meetings etc.), outside work general P&S allowance (if work related) etc...

Any information would be greatly appreciated,
I hate paying tax lol!

Best regards,
Coeus.

Mikeyorks

Is this developing into a theme? :-

http://forums.moneysavingexpert.com/showthread.html?p=31950313&highlight=#post31950313


Look on the HMRC site for legal deductions for employed people. Unless you have to launder uniform ....... you'll find very little outside the subscriptions you mention.

00ec25

finance professionals are no different to any other employee
No you cannot claim for cleaning suits etc as they are do not meet hte definition of a work related uniform - there is a very very long thread on here setting out examples of claimable uniforms.
A suit is excluded because you would be expected to be clothed at work so it is not wholly and necessarily related to your employment, even if there is a compoany dress code requiring suits rather than casual wear

TM1976

There is a flat rate allowance of £60 a year for uniformed doormen and messengers in banks and building societies - is this you?

Coeus

"Is this developing into a theme? :-"

Yeah very much so I'm afraid. I've never really been out of a job since coming of age and am bit p*ssed of being taxed to death for working. I'm on a lower middle class income and never seems to get much easier tax wise. Don't get me wrong I'd rather be in the UK than in Afghanistan right now but the UK is getting more unfair every year. Here's a list of the UK economy issues that currently p*ss me off if your interested:

- Substantial bank bonuses paid on the back of tax-payer financed recklessness and failure.
- Personal allowance freeze resulting in fiscal drag - more money lost to inflation
- B*stard MP's who, though legally entitled to, raped and abused the parliamentary benefit system. It's called following the spirit of the guidelines.
- Fact that the above mentioned B*stard MP's didn't pay any interest on these 'mis-claims'. Bet if it were SA tax they fiddled they would of (+fines +surcharges).

End of rant.

"There is a flat rate allowance of £60 a year for uniformed doormen and messengers in banks and building societies - is this you?"

Unfortunately not no but I'm going to pass that onto a few mates of mine to look into, could work for them. Thanks for the input!

Mikeyorks

Fine. So how does :-

Does anyone know what would happen if one were to invest the full ISA allowance (£10,200) in a S&S ISA aswell as £5,100 in a cash ISA, totalling £15,300 invested in a single tax year?

..... you attempting to fiddle your ISA allowance ratify any of that? Or does it more accurately portray the fact you have the mindset of an MP / Bank bonus recipient ...... but lack the opportunity.

Coeus

..... you attempting to fiddle your ISA allowance ratify any of that? Or does it more accurately portray the fact you have the mindset of an MP / Bank bonus recipient ...... but lack the opportunity.

Lol. True. Not that I would do so, merely a curiosity. As for the morals of it, the MP's got there once over before getting a slap on the wrist, so why not ours?

Merely levelling the playing field.