Tool Tax Rebate
If you pay for your own tools , then you can claim tax rebate for repair / replacement of those tools.
Professions like Mechanics, auto electricians , gas engineers, hairdressers could be eligible for upto £900 on your first time Rebate.
How much could I get back?
The amount Tax relief is 20% of initial purchase price of the tool
mark is a mechanic for the last 4 years. During this time, he has spent £4000 on hand tools and £1000 on a tool box. By making a Capital Allowance claim on his tools, Mark can expect to receive a tax rebate of around £1000.
The actual amount will depend on several factors, including the date of purchase as well as how much tax you have paid through your wages.
Eligibility Criteria ?
- You pay tax on your wages through PAYE.
- You are required to buy your own tools in order to do your job.
- Your employer does not reimburse you for the tools.
In some instances, we may also ask for a declaration from your manager confirming that you buy your own tools (we’ll provide the template for them to sign). We normally only ask for this if HMRC has rejected your claim and we are preparing an appeal.
Do I need receipts ?
Yes, HMRC will need proof of your purchase. If receipts are lost, you will not be able to claim.
If you buy your tools online, email order confirmations can also be accepted as proof of purchase. You can usually view your eBay or Amazon purchase history on your account for up to 6 years.
My tools are on finance?
If the tools are on a finance agreement, then you can still claim back the tax relief plus a bonus of claiming back the tax paid on the interest. For this a copy of the finance agreement will be necessary you’ve paid.
Can I backdate my rebate ?
Yes, we can also backdate your claim to make sure that you receive everything that you are legally entitled to. As long as you can produce the receipts we can help you get the amount you're owed easily.
What types of tool allowances are available?
The government has set a ‘Flat Rate Expense’ allowance £120 for tools for those in the mechanics and auto-technician trade, but don't worry if you've spent over this amount because there is another way we can help you get the tool tax rebate you deserve.
The Capital Allowance option allows claims for 20% even over £120.
Filling in the appropriate forms and understanding mind-boggling Capital Allowance legislation for a tool tax rebate can be time-consuming, so if you'd rather be spending your time doing something other than paperwork, then you can trust the team at Employeetax.co.uk to do all the hard work for you.
We're experts in helping mechanics get the tool tax rebate they're entitled to, so get in touch with us today to discover just how easy it is to get what you're owed on your tools with minimal effort needed. You can even submit your claim online from the comfort of your sofa! How easy is that?
How many years can I claim?
We recommend you make your claim within 4 years from the end of the tax year in which you purchased your tools. For purchases made over 4 years ago, you may be required to spread the allowance over several years.
You can use our online calculator to check how much tax relief you are entitled.
When am I not Eligible?
You are not eligible if you have not paid enough income tax, also you are not eligible if your employer has already reimbursed you for the costs.
Can I Claim for anything else?
You could check our Uniform Tax Allowance page for more information, on how to get uniform tax rebate.
How Do I Claim a Tax Rebate?
Don`t worry , the tax rebate process does not require historical data / receipts. We have kept it very simple , use our online calculator for eligibility , then just complete a few basic questions on our online form and we will do the rest. As your Tax Agent , we deal with all queries from HMRC and you receive a tax refund cheque in the post.
Employee Tax has a proven record of dealing effectively on behalf of our clients to recover taxpayer money for Job Uniforms Tax Refunds, Marriage Allowance Tax Rebate, Tool Allowances Tax Rebates , PPI Refund Tax Rebates, Mileage Allowance Tax Refund, Magazine Subscription Allowances Tax Refund, Union Fees tax refunds and many more.