Are you responsible for purchasing the tools you use for work? As a mechanic, if you are required to purchase your own tools, you are likely to spend a considerable chunk of money on tools. If your employer hasn’t reimbursed the amount you spent on tools, uniform fees, cleaning your uniform or mileage expense you are eligible to claim a mechanics tax rebate.
Get professional help for claiming tax rebates:
HRMC allows you to claim back on tools you’ve paid from your pocket. You are required to submit appropriate forms and paperwork to apply for a mechanic tax rebate. You’ll also have to find out which expenses apply to you. Figuring this out by oneself can be time-consuming. You can get the help of leading professionals like Tax Rebate Services.
They have helped more than 20,000 UK citizens receive tax rebates. They’ll assess your income tax details and work towards helping you acquire the maximum possible refund. Contact their account manager to speed up the process of receiving the tax rebate. You can get an idea of how much amount you are due by checking their free tax rebate calculator.
Tax back on tools:
You can apply for a tax back claim in 2 ways. The choice depends on how much you have spent on tools.
- Flat rate expenses: HRMC offers mechanics £120 for the amount spent on tools. If you are applying for claim under ‘flat-rate expenses’, you won’t usually have to submit receipts of tool purchase. If you’ve spent up to £120 on tools and you don’t have the receipts, this method is ideal to claim relief. You can date back up to 4 years of the purchase of tools.
- Capital allowance: If you have spent more than £120 on tools, and you have receipts of the purchase, you can claim for capital allowance. As long you have the receipt, you can claim for purchase dating back any number of years. This claim is worth about 18% of the amount you spent on purchasing tools.
Even if you have purchased the tools on credit you are eligible to claim a tax rebate. If you submit your financial agreement as proof, HRMA pays the deemed amount due after taking into consideration the interest you paid. However, you can’t claim a tax rebate if your employer has reimbursed the cost of the tools or if you don’t earn enough that requires you to pay income tax.
Tax back on specialized uniform:
Most mechanics would be required to wash and maintain their specialized uniform/ protective gear. You can claim up to £60 to cover the cost of maintaining/ replacing your specialized uniform. If your employer provides a washing facility in your workplace for washing uniforms or if your employer has reimbursed the cost of your uniform, you aren’t eligible for this claim.
Many UK mechanics are overpaying taxes since they aren’t aware of the income tax benefits that apply to them. Contact professional tax and accounting services and claim back the maximum refund amount you are due.