Employed and wanting to claim back equipment vat

[kiersindevon]

Hi guys, I've heard rumours about employed people being able to claim back there tax and vat each year for equipment Brought and fuel cost for travel to work!! Also pack lunch and stuff like that. Is this true?? And how would I go about this?? Or is it a load of doggy do?? Cheers. Kierran

[Peasgood]

Hi guys, I've heard rumours about employed people being able to claim back there tax and vat each year for equipment Brought and fuel cost for travel to work!! Also pack lunch and stuff like that. Is this true?? And how would I go about this?? Or is it a load of doggy do?? Cheers. Kierran

 

Were you told this today?

This morning by any chance?

[Marc Lewis]

Doggy do I would think. Your employer will already be claiming vat back on such items. You cannot claim vat back twice on same item.

[kiersindevon]

No;) I'm guessing its untrue then??

[kiersindevon]

Doggy do I would think. Your employer will already be claiming vat back on such items. You cannot claim vat back twice on same item.

 

But it was me who Bought the equipment and me with the invoice!!!

[Rupe]

No to the VAT on stuff, you cant claim that back at all, no way.

 

Fuel costs for driving to work? No way, everyone has to drive to work! Im guessing you mean driving to your bosses yard and back everyday? Everyone has to drive to work so no you cant claim a thing there.

 

PPE and equipment? Mmmmm, maybe, you cant get the money back but you might get a tax rebate on the money you spent on it, you would need to do a tax return at the end of the year. So if your boss is paying your tax through PAYE and you have spent lets say 1000 on stuff (total price including the VAT on it) then you might be able to get the tax on 1000 of your income returned. An accountant would be more help than me.

 

Another way might be (some companies do this) your employee sets aside 1000 of you income for kit that you need to buy, and then pays your tax on the rest of your income. Both methods would be similar, i,e you get about 250 of tax back.

[Rupe]

Oh, and no to your lunch costs, everyone has to buy lunch, no to clothing (self employed office contractors cant claim back suits etc). It would be PPE and tools only.

 

Your employer might buy you PPE and tools anyway? Then you wouldnt have the expense in the first place.

 

Before anyone says Employers have to buy PPE, thats not the case, they only have to make sure you have it, and some give an allowance each year (tax free) for this, see my second example above. So if you ruin three pairs of chainsaw trousers and then run out of your allowance its tough you have to buy more out of your own money.

[kiersindevon]

No to the VAT on stuff, you cant claim that back at all, no way.

 

Fuel costs for driving to work? No way, everyone has to drive to work! Im guessing you mean driving to your bosses yard and back everyday? Everyone has to drive to work so no you cant claim a thing there.

 

PPE and equipment? Mmmmm, maybe, you cant get the money back but you might get a tax rebate on the money you spent on it, you would need to do a tax return at the end of the year. So if your boss is paying your tax through PAYE and you have spent lets say 1000 on stuff (total price including the VAT on it) then you might be able to get the tax on 1000 of your income returned. An accountant would be more help than me.

 

Another way might be (some companies do this) your employee sets aside 1000 of you income for kit that you need to buy, and then pays your tax on the rest of your income. Both methods would be similar, i,e you get about 250 of tax back.

 

Thanks for that pal:) will speak with my boss!!

[hedgesparrow]

if you use your vehical for work other than going to yard you can claim was 45p per mile. as for clothing you can offset some of your tax for clothing you have had to get to do work at year end you would need to do a HMRC form for milage so you need to record your milage you do it was daily so can be a choreif not doing many miles. and a return for clothing but you will need t check with HMRC. as for fuel you can claim this back from your boss and he can ofset this in his books that he pays milage. DRAWBACK if you use a company car you will pay £5k a year in tax if you use it for private use if it belongs to company. i used my own and charged the company. but if you do over 10k a year it drops to a lower band and it is not worth using own.

i was at end due to the goverment having such a paltry milage rate. that i was only just breaking even with cost of fuel servicing tyres it soon added up. never go down that road again big mistake

[kiersindevon]

Thanks hedge sparrow,, very useful advise;)