Because you want to know how much you could claim back for a tools tax rebate.
You don’t want to have to do the maths yourself.
You don’t just want to see an example of someone else’s claim, or work off of our over £900 average claim figure.
You want to know how much you are entitled to claim, based on how much you actually spend on tools for work.
And that’s the only number you need to put into the calculator – how much you spent on tools and tool storage in the last tax year or from when you started buying them if you are making your first tool tax rebate claim.
Do I have to pay to use the calculator?
No, we provide this Mechanics Tax Rebate Calculator free of charge to anyone who uses our website. We invest in this kind of service in order to empower you with the knowledge you need to be tax efficient. If you don’t know roughly how much you are owed, you can’t judge if it’s worth pursuing a claim.
You don’t pay with your data either. Our Mechanics Tax Rebate Calculator does not ask for any personal, identifying information, like your name and address. The calculator doesn’t collect the information entered, it literally just makes the tax rebate calculation for you. We don’t ask you for your data in any other way.
There are no registration forms or sign up for our newsletter pop ups to negotiate before you can use the Mechanics Tax Rebate Calculator. It’s just there as a handy free tool to make your tax affairs a little bit easier to manage.
What kind of equation is the calculator working out?
As a mechanic or auto technician claiming for tools and tool boxes, you are making a Capital Allowances claim. This is currently paid at a rate of 18% of your total expenditure. The calculator simply gives you 18% of your tools spend and saves you faffing around working it out yourself.
It’s important to know that as an employed mechanic under PAYE it is not possible to reclaim the VAT paid on tools bought for work.
A claim must be made with the tax office in a specific format to ensure you receive the tax relief you are owed from the past and in the future.
Is the number given to me by the Mechanics Tax Rebate Calculator exactly how much my tax rebate will be?
No, the Mechanics Tax Rebate Calculator gives you a realistic estimate of how much tools tax rebate you are entitled to. There are other factors that influence how much your actual tax rebate total will be, including how much and what rate of tax you paid during the tax year you’re claiming for and how much you earned.
Making a mechanics claim and other tax reliefs
Once you factor in all your other possible tax reliefs and allowances, you are highly likely to get back a higher amount. This includes tax relief on your IMI membership fee, interest on finance agreements from your tool providers and laundering your work uniforms. There are several other tax allowances and reliefs that often apply to mechanics and auto technicians, which we have found that they often don’t know they are entitled to.
So, the calculator is a great place to get the first number on your list of everything you can include in a Mechanics Tax Rebate claim.
