Ebene News – GB – HMRC urges millions in UK to quickly claim their free £ 500

Nearly 800,000 Britons have claimed household costs so far this tax year, with HMRC claiming that claims can be backdated up to four years

Millions of Britons are reminded that it is not too late to claim free £ 500 tax break if they have worked from home

Nearly 800,000 homeworkers during the coronavirus pandemic have asked for tax relief on their household-related expenses so far this tax year

HM Revenue and Customs (HMRC), which released figures from its online complaints portal, said the saving was £ 125 per year per employee

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According to Wales Online, the relief can be backdated by four years, which represents a total maximum claim of £ 500

Eligible workers can claim the full year right if they have been invited to work from home by their employer, even if it was only one day in the tax year

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The new fiscal year began on April 6, with over three million tax relief requests previously received for fiscal year 2020/21

Myrtle Lloyd, general manager of customer service at HMRC, said: “More and more people are returning to the office to work, but it is not too late to ask for tax relief on household expenses whether they worked from home during the pandemic “

As of April last year, the maximum amount employers can pay tax free without employees having to provide proof of a higher bill has been set at £ 6 per week

Employees who have not received payment for work-at-home expenses directly from their employer can apply for HMRC tax relief

For example, if a salaried worker pays the base tax rate of 20% and claims tax relief of £ 6 per week, they will receive £ 120 per week in tax relief (20% of £ 6 per week) on the cost of their household bills Higher rate taxpayers would receive £ 2.40 per week (40% of £ 6 per week)

Over the course of the year, this means people can reduce the tax they pay by £ 62 40 or £ 124 80 respectively

HMRC said it will accept backdated requests up to four years and people can receive a lump sum payment for any successful backdated request

HM Revenue and Customs, Tax exemption, Telecommuting

Ebene News – GB – HMRC urges millions in UK to claim their free £ 500 swiftly

Source: https://www.chroniclelive.co.uk/news/uk-news/hmrc-free-500-tax-credit-20933797