Tax Savings? But I’m just an employee....

A lot of people make the mistake of thinking that just because they aren’t a large company that tax reliefs don’t apply to them.

Although you may be “just an employee”, you may be missing out on tax reliefs such as:

1.       Tax relief on travel costs where your employer pays less than the HMRC authorised rates (45p per mile for the first 10,000 miles and 25p thereafter).

2.       Higher rate tax relief on gift aid donations.

3.       Higher rate tax relief on personal pension contributions.

4.       Tax relief for professional subscriptions costs.

5.       Tax relief for costs of cleaning uniforms.

6.       Tax relief for buying equipment necessary to do your job.

7.       Tax relief for working at home.

If you feel that you are entitled to some tax relief for expenses such as the above, then you should look to make a claim for relief. Any reliefs for the year to 5 April 2012 must be claimed by 5 April 2016, so time may be running out.

As ever our tax team would be delighted to help you and can be contacted on:

Darlington – 01325 349700
Durham – 0191 3842244
York – 01904 784400