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Getting my Tax bill down

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Comments

  • 100saving
    100saving Posts: 314 Forumite
    so does that mean i will not pay tax on the first £9,540?
    Age: 24 / London/Ireland / Salary €49,000 / 1 London BTL (8% yield) / Total savings pot £12k+
    Lloyds Club CA £5,000 @4% / FD Regular Saver £3,600 @6% (12 of 12) / TSB Classic CA £2,000 @5%
    Clydesdale Direct CA £1,000 @2% / Santander ISA £700 @0.5% / Premium Bonds - £100
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  • jem16
    jem16 Posts: 19,736 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    100saving wrote: »
    so does that mean i will not pay tax on the first £9,540?

    Correct - £9440 + £100 = £9540.
  • 100saving
    100saving Posts: 314 Forumite
    sorry i was having a blond moment. how does the working from home thing work could i claim for 3 hours of home working? it says on the HMRC website:

    "payments of up to £4.00 per week, or £18 per month for monthly paid employees, you don’t need to provide any records of the household expenses you’re claiming relief for. For amounts above £4.00 you will need supporting evidence to show that the amount you are claiming is no more than the additional household expenses you have actually incurred."

    so does that mean i could claim for say £15 a month (£180 a year) without having to show any evidence? and if they asked for evidence what could this be? as its mostly emails and a small amount of paperwork max 3 housrs a week.
    Age: 24 / London/Ireland / Salary €49,000 / 1 London BTL (8% yield) / Total savings pot £12k+
    Lloyds Club CA £5,000 @4% / FD Regular Saver £3,600 @6% (12 of 12) / TSB Classic CA £2,000 @5%
    Clydesdale Direct CA £1,000 @2% / Santander ISA £700 @0.5% / Premium Bonds - £100
    Halifax Reward CA (£5 per month) / Santander 1|2|3 CC (cashback)
  • 100saving wrote: »
    so does that mean i could claim for say £15 a month (£180 a year) without having to show any evidence? and if they asked for evidence what could this be? as its mostly emails and a small amount of paperwork max 3 housrs a week.

    No.

    What it means is that once HMRC have accepted that your are required to work from home, then you can claim up to the £4/wk limit without showing evidence of the costs incurred.

    From what little you've said before, I have serious doubts as to whether HMRC would accept a homeworking claim from you - remember that any costs incurred must be done "wholly, necessarily and exclusively in the performance of your duties"
  • Skint_yet_Again
    Skint_yet_Again Posts: 8,612 Forumite
    Part of the Furniture 1,000 Posts Hung up my suit! Mortgage-free Glee!
    edited 15 July 2013 at 5:05PM
    100saving wrote: »
    i followed the steps in this thread (https://forums.moneysavingexpert.com/discussion/27967) and the steps my employer set out to get the money back from last year and it should start taking it off my monthly tax bill.

    How does the working from home expenses claim work? i do sometimes do a few hours paper work from home.

    Also I use my phone a lot for emails and work texting/calling ect. could i claim back part of my contract bill?

    Sorry but its not clear from your posts, does your employer require you to work from home? As per the link I posted :

    "If you are employed specifically to work at or from home, and have no alternative but to do so, you may be able to get tax relief on some of your household expenses"

    You might be able to claim tax relief for the cost of business calls etc on your mobile phone - see guidance here and the examples - again you would only get back 20% of any amount HMRC allow, as you are a basic rate taxpayer

    http://www.hmrc.gov.uk/manuals/eimanual/eim32945.htm

    It also depends on your tariff and whether or not there is an actual additional cost to you not included in your tariff/free minutes/free data etc
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    Retired at 55 & now living off the equity £10k a year (until pensions start at 60 & 67).

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  • McKneff
    McKneff Posts: 38,857 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Lol, God loves a trier though.

    :rotfl::rotfl::rotfl:
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
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