Martin Lewis, Money Saving Expert, offers tips and tricks to those who are looking to save money throughout the year. As such, with the financial strain brought about by the pandemic, his advice has been particularly helpful. Martin has turned his attention to various important topics, but today, he offered a vital update to those who are working from home.
Appearing on ITV’s Lorraine, the Money Saving Expert revealed a good way for Britons to claim back extra cash without too much effort.
He provided insight into the working from home tax rebate, which could provide Britons with money back for their time spent at home this year.
Due to the pandemic, millions have been forced to alter their usual working habits and carry out their jobs remotely.
However, this is likely to have incurred additional costs for many, and the government has taken this into account.
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However, the Money Saving Expert also revealed a new change to the system which is likely to benefit Britons.
Normally, people are told to claim by the week for their working from home expenses.
Due to the pandemic, though, the government has now stated those who have worked from home, even for just one day, can now claim the tax relief for the whole year.
This can be backdated to April 6, 2020, potentially providing a lot of valuable support to those who have had their working pattern disrupted.
Martin explained the tax relief will equate to £60 for basic rate taxpayers, and £120 for higher rate taxpayers.
There may, however, be complications for those who usually fill out a self-assessment form, and so extra care and research should be taken.
The government website has offered further help and advice to those looking to claim tax relief.
It reads: “You may be able to claim tax relief for additional household costs if you have to work at home on a regular basis, either for all or part of the week.
“This includes if you have to work from home because of coronavirus. You cannot claim tax relief if you choose to work from home.”
It is important to note tax relief may be able to be claimed on equipment Britons have bought, such as a laptop, chair or mobile phone.
Tax relief can be claimed on £6 a week from April 6, 2020, where people will not need to keep evidence of these extra costs.
However, it can also be claimed on the exact amount of extra costs a person incurs above the weekly amount.
These individuals will need to provide evidence of these costs in the form of receipts, bills or contracts, for example.
Those who think they may be eligible can check this via the government’s website.
Martin Lewis is the Founder and Chair of MoneySavingExpert.com. To join the 13 million people who get his free Money Tips weekly email, go to www.moneysavingexpert.com/latesttip