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Protea Financial Services

2 New Court Farm Cottages, Alfriston Road, Polegate

BN26 5QP

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News

Find out what's going on at Protea Financial Services and the industry.

8th March 2022

 

Tax Relief for Employees working from home

 

 


If you are an employee working from home, you may be able to claim tax relief for some of the bills you pay that are related to your work.  Employers can reimburse employees for the additional household expenses incurred through regularly working at home.  The relief covers expenses such as business telephone calls or heating and lighting costs for the room you are working in.   Expenses that are for mixed private and business use (such as broadband) cannot be claimed. Employees will also be able to claim tax relief on equipment they have bought, such as a laptop, chair or mobile phone.

Employers can pay up to £6 per week (or £26 a month for employees paid monthly) to cover an employee’s additional costs if they have to work from home. 
Employees do not need to keep any specific records if they receive this fixed amount. 

If the expenses or allowances are not paid by the employer, then employees can claim tax relief directly from HMRC.   Employees will get tax relief based on their highest tax rate. And HMRC will accept backdated claims for up to 4 years. File that tax return to claim the expenses back!  These tax reliefs are available to anyone who has been asked to work from home on a regular basis, either for all or part of the week including working from home because of coronavirus.


 

   
 

The Financial Conduct Authority do not regulate certain types of Buy To Let / Commercial Mortgages.

All loans are subject to a credit search, valuation and in some cases status enquiries by the lender.

A Protection plan will have no cash in value at any time, and will cease at the end of the term.

If premiums are not maintained, then cover will lapse and you may not be covered if a claim is made.

The information contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK.

Information contained on the website does not constitute advice and decisions should not be made based solely on the information on the website. Individual advice should be sought.

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Protea Financial Services (South East) Limited is authorised and regulated by the Financial Conduct Authority, Registration number 954035, in respect of mortgage and insurance mediation activities only. Details of which can be found by visiting www.fca.gov.uk. Protea Financial Services (South East) Limited is registered in England and Wales, company number 09393797. © Jacques Pienaar.