Will I automatically get a tool tax rebate?
No, you will not automatically get a tool tax rebate.
The government has set up a system of tax reliefs and allowances for work expenses to make the system fairer for taxpayers. And they do have lots of the necessary information about your income, tax payments and NICs already.
But they don’t have all the facts. They don’t know that you replaced your overalls or bought a new expensive MAC tools toolbox at your own expense, unless you tell them.
The tool tax rebate process
The whole procedure is based on the idea of each taxpayer’s application for a tax rebate being treated individually.
A claim should be made in writing and may include the completion of a self assessment tax return which is normally submitted online.
Your financial situation is different to all of your colleagues, even if you are doing the same job, buying the same tools and paying the same rate of tax.
Other factors also influence your tax rebate claim, so it must be decided on a case-by-case basis. This makes an automatic tool tax rebate impossible.
Basically, submitting a tax rebate claim is the taxpayers’ role in these particular HRMC procedures. If you do not submit a tool tax rebate claim, you will never get your tax overspend paid back to you.
Tool tax rebate claim types
Capital allowances
Claiming for the actual cost of your tools is possible by claiming capital allowances. Evidence must be provided showing the date of purchase, item description and cost.
Flat rate allowances
A flat rate expenses is available without the need for receipts. Although there are flat rate expense amounts for commonly claimed expenses in particular industry sectors which carry less of a burden of evidence, these also have to be claimed for.
You can include other work expenses with your claim like the cleaning of workwear and the cost of protective clothing (receipts needed).
Our tool tax rebate claiming service
Our tool tax specialists are here when you are ready to start your claim. With our expertise and knowledge we secure an average tool tax rebate worth more than £900!
To get in touch complete our online contact form below, email [email protected] or call 01228 520477.
Tool Tax Refund Calculator
Calculate your Mechanics tax rebate today
Use the tool tax refund calculator to find out how much you can reclaim. Just enter the total of how much you’ve spent on tools and the calculator will let you know how much you can claim.
