Working From Home Relief – Claim Now for the Current Tax Year

Understanding Working From Home Relief

Restrictions are loosening and that’s great news. You can now go to the shops and sit in a pub garden if you choose to do so. It’s a little bit of normality, at least. But if you’re still taking precautions and working from home, you might be interested in the tax relief available. You can now claim working from home tax relief COVID for the current tax year and last year if you haven’t already done so. The process is quick, simple and will ease the financial burden of working at home all day.

What is Working From Home Relief?

The ongoing pandemic has forced many people to work from home in order to protect themselves from the rapidly spreading virus. The government ordered people not to travel to work unless absolutely essential and, to compensate, issued a working from home tax relief in line with the current climate. This is specifically designed for people who have to work at home and don’t choose to work at home. For example, if your company remains closed as the working environment doesn’t allow for social distance measures to be implemented, then you can certainly make a claim.

Working from home relief can even be claimed if you’ve only worked from home for a single day due to the pandemic. All you have to do is declare that you’ve incurred additional costs such as heating, business calls, or metered water.

How Much Can I Claim?

The government is offering a flat rate of £6 per week without any extra evidence of costs incurred required. If you incur higher costs, you can make a claim for more money, but you’ll have to prove your outgoings, so keep hold of bills and receipts. If you’re a basic rate taxpayer, you’ll get 20% tax relief on this sum which works out to £1.20 per week. Higher rate taxpayers would get £2.30 in tax relief per week.

How Do I Make a Claim?

Making a claim for working from home relief is easy. You can claim the relief using a completed Self-Assessment Tax Return. Employees can also claim tax relief online for both the new tax year and the old one. £6+ a week really adds up and can help you budget during this difficult time, so it’s well worth getting all the government assistance you can.

Contact us today for help with the financial side of business.