Don’t miss out on the working from home tax relief
Still being asked to work from home? You can claim tax relief for this tax year AND backdate it for the previous two years!
Advanced Accountancy can explain how to claim this tax relief, take a look at who is eligible, and walk you through the process in more detail.
As we know, the last few years have seen a surge in the number of people who have and are still working from home. Due to this, millions of workers can claim the working from home tax relief worth up to £420, but HMRC has warned that the number of people who can claim it for the current tax year (2022/23) will drop as workers head back to the office.
If you have been asked to work from home, even if it is for just one day, you can still claim for the full tax year in question.
“The rules around the homeworking deduction, which have been in place for some years, have not changed. However, circumstantial changes (including an end to the legal requirement to work from home where possible) now mean many people will no longer be eligible to claim the deduction,” a spokesperson for HMRC said.
You have until 5 April 2025 to claim for the 2020/21 working from home tax relief and 5 April 2026 to claim for the tax year 2021/22.
We all know that the cost of living going up, so there has never been a better time to claim for the money you are owed.
Sounds good! How do I apply?
Unless you carry out a self-assessment, you can use HMRC’s dedicated online site to make your claim. If you are self employed the process is a little different.
Before you can proceed with your claim, you will be asked a number of questions to assess your eligibility.
You will need your Government Gateway user ID and password to hand. If you don’t have one, then you can create one in about 10 minutes, although you’ll need a few details such as your national insurance number and I.D such as a passport or drivers licence.
If you are self employed and you complete a self-assessment tax return, then you can’t use the same microservice, but you can still claim.
When you complete your online tax return, fill in the ‘other expenses and capital allowances’ section in the employment part.
The amount you can claim will depend on your income.
Of course, if all of this sounds like a lot of hard work, you can always call Advanced Accountancy and we will do the hard work for you.
Sound good? Call us today on 01384 271858 or e-mail us at [email protected].
It seems we’ve said this a thousand times and more…but things really do seem to be getting back to normal now, right? (Quick! Touch wood!)
What a couple of years we’ve had.
As our businesses are now open, furlough is wrapping up and
masks are becoming a thing of the past, it’s hard not to reflect on what we
have all experienced as a community over the last few years.
Our local businesses have suffered like never before, our
high streets are rapidly emptying, and staff levels are increasingly uncertain
due to people self-isolating, and yet amongst all that negativity, positivity
shines through. Look at how businesses have adapted to survive! Look at how
they’ve rallied around to switch to online shopping, sorting deliveries and
sharing the posts from those they want to support. They’ve shown us how strong
we are when we work together, and it’s made us all realise just how much we DO
value or strong local business community.
Advanced are so proud of the part we have played during the
pandemic. We take our hats off to our healthcare heroes, the NHS, paramedics,
care workers, postal works, teachers and so many more who have kept us going
through our darkest moments. But we also want to extend our heartfelt thanks to
our loyal staff, who, as essential finance workers, came to the office day in
and day out to help out not only or local but also nationwide businesses by
organising grants and loans, by furloughing staff and by offering some
much-needed business advice to people who were at a loss.
In fact, to date, Advanced have secured a whooping £529,569.32
for those in need since the start of the pandemic.
Advanced Accountancy not only take on many new clients, but
because of our customer care levels, we also have exceptional retention rates.
This is not only great for our growth and reputation, but it means we’re in the
fortunate position to be able to frequently offer up new jobs and opportunities
within the community.
Our workplace and workforce have gone from strength to
strength, so much so that we have yet another large recruitment drive. Lottie
is an accounting graduate that joined Advanced in September 2021. Susan has
joined Maddison on our payroll team and Morgan is our new apprentice who is
completing his apprenticeship at Dudley College. All our new recruits have hit
the ground running and we’re super proud of them.
Speaking of super proud, we’d love to take this opportunity
to offer our huge congratulations to Rohan, our much-loved practice manager who
has recently proposed to Davina, the love of his life (and yes, she said yes!)
If you want to see the rather impressive photos, please head over to our
Facebook page!
Not to end on a depressing note, but it’s that time of year
again! Right?
And no….not Christmas! The self-assessment electronic
filing deadline day is rapidly approaching and will be upon us on the 31st
of January 2022. But of course, you want to be ready and organised well before
then! That’s why we’re here! Call us on 01384 271858 and file your
self-assessment tax return with us.
Don’t forget Advanced have a five-star customer rating on
Trustpilot, Facebook AND Google. Don’t trust us, trust our clients!
Anyway, that’s all from us. Enjoy the run up to Christmas
Advancers.
After what
feels like months of enduring another lockdown (this one during the depths of
winter!) we finally have some uplifting news and something positive to focus
on.
A roadmap to ending lockdown has been announced and the end is in sight! Primary and secondary schools are returning on the 8th of March. Hairdressers, beauticians, non-essential shops, zoos, and safari parks can all reopen on the 12th of April. Our much-missed pubs and restaurants can also look to reopen mid-April, but we need to keep our fingers crossed for warm weather because it will be outdoor dining only until later in May. Cinemas, softplays and all other indoor pursuits will be good to go as of May 17th. For those of you who are missing nightclubs you will be pleased to know that ALL restrictions are hopefully going to be lifted by June 21st. It is pretty hard to imagine the UK without restrictions right now isn’t it? But this news will bring some much-needed relief to so many people missing their loved ones, and of course, much needed relief to so many wonderful UK businesses that have been devastated by the pandemic.
Being restriction free sounds
amazing, but it is of course subject to the numbers continuing to decrease so
we all need to carry on doing our bit for now!
April is
still far away. What help is on offer?
We understand that if you
have been unable to trade since the start of January, the idea of having to
wait until June potentially to reopen your business is still devastating. But
there is more support on offer than ever before. Furlough has been extended
until the end of April. There is a large variety of different support packages
out there depending on your circumstances such as the Bounce Back Loan,
Additional Restrictions Grant, or the Coronavirus Business Interruption Loan
Scheme to name a few. Our expert staff are well versed in every single relief
package out there and will soon find the right one for you.
What can WE
do for you?
Advanced Accountancy have
been working flat out since the first lockdown ensuring that each business that
turns to us for help is given the very best chance of success. Our expert
payroll team can furlough your staff and bring them back from furlough when
needed. We can check your eligibility for business grants, apply on your behalf
and arrange any other financial assistance you might need such as loans and
support packages. In fact, to date, Advanced Accountancy have applied for, and
successfully secured, an astonishing £255,855,41 worth of grants on
behalf of many different businesses and organisations. We are doing our bit to
ensure that we come out the other side of this pandemic with businesses and
jobs as intact as they possibly can be, and the reviews are pouring in with so
many clients stating that we have helped to keep them afloat during this
incredibly stressful time.
Well,
what can we say. We’re coming to the end of another year and I’m guessing the
vast majority of us are happy to see the back of it..
When we
all cheered to the start of 2020, none of us could have imagined the social
isolation, the hospitals bursting at the seams, the whole world stopping.
None of
us could have predicted businesses shutting for months at a time, people going
bankrupt, high streets closing at an even more alarming rate than before.
Many of
us are facing a Christmas and New Year unlike any we have seen before. We’re
having to learn (and relearn) what social bubbles are. What tiers we’re in.
Where we can and can’t shop.
We’ve
uttered the words ‘where on EARTH is my mask’ more times than we ever thought
possible. We’ve witnessed insane queues for McDonald’s. We’ve realised what it
is we really value.
At
Advanced Accountancy we have seen first-hand the absolute devastation that
lockdown has done to our local businesses. We have applied for grants, loans
and provided our expertise on the various government schemes throughout the
pandemic. We hope we HAVE helped. We hope we have provided the advice, guidance
and the support that our existing and new clients needed in this time.
We hope
we have helped our precious community cope with the stress of Covid-19.
We have
lost people this year that we did not expect to. Marina’s much-loved Dad
tragically passed away at the start of the year, which has had a huge and
lasting impact on us personally. The death of Lucy and her young friends has
shocked and horrified our community, and the nation. There have been countless
other loses due to covid and we extend our heartfelt sympathies to all of you
that have been affected by 2020 in the worst possible way.
And yet
we carry on. We battle against the affects of lockdown. We take care of each
other. We keep going.
2020
has taught us how strong we can be if we all work together. It has shown us
what can be achieved.
So,
we’d like to pay our respects to all those who are no longer with us. However,
we would also like to give thanks to each and every one of you who have
continued to support us and Advanced Accountancy through this difficult year.
For everyone who has liked and shared our posts, for all the recommendations,
for everyone who has continued to place their trust in our services.
As
small local businesses we stand united at this time. Whatever the future holds
we face it together.
Have a
great Christmas, a prosperous New Year and please join us in booting 2020
firmly out of the back door once and for all!
Over the last
six weeks or so there have been so many sudden unexpected changes that every
blog we’ve written has been out of date within 12 hours, so we’ve been keeping
you up-to-date via our Facebook page instead.
We’ve had the
introduction of tiers, curfews, another lockdown, and now finally we’re settled
back into tiers (until the 16th anyway) so we’re back to blogging!
It goes without
saying that the restrictions and unpredictability have had a huge knock on
affect on businesses throughout England and the UK.
Advanced
Accountancy has clients far and wide, so we appreciate that all of you may be
affected differently. Is it drinks, no drinks or drinks with a substantial
meal? (scotch egg, anyone?)
At Advanced
headquarters we have unfortunately fallen into the no drinks category, or tier
3, as its more commonly known. Our wonderful pubs, bars and restaurants have
had to close their doors yet again, as have many non essential shops. So how on
earth are businesses meant to survive the forced closures I hear you cry?
It’s tough. We
know it’s tough. You want to be working. You’ve worked hard to build your
business and watching it struggle is painful.
Furlough has
been extended until March at 80% which is great news for employees who want to
keep their jobs and employers who want to keep their loyal staff.
Business grants
are still there for the for small and medium businesses, and if you’re self
employed, there is the self-employment income support scheme.
There is also
support in the form of deferring VAT, Statutory
Sick Pay rebate, Business rates holiday for retail, hospitality and leisure,
Coronavirus Business Interruption Loan Scheme, Coronavirus Bounce Back Loan,
Support for businesses paying tax: Time To Pay Service, Support to create job
placements: Kickstart Scheme, Local Restrictions Support Grant and the
Additional Restrictions Grant to name a few. *takes a deep breath*
Confused
yet?
Since the
pandemic threw us into the first lockdown, Advanced have been busy applying for
financial relief on behalf of countless businesses needing guidance.
We’re still
open and fully functional, and our director Marina has invested in the highest
quality PPE for our staff, our premises and our wonderful clients.
Screens are in place to protect our staff
Our conference room has been redesigned to allow for social distancing
Our offices are fully compliant with track and trace
Of course, if you’d prefer, we’ll happily conduct any consultation or conversation over the phone or via zoom. We’re totally flexible and here to meet your needs.
So if you’ve been affected by Covid, no matter where you are, and no matter what your tier, remember that Advanced Accountancy has the solution that suits YOUR business.
Our wealth of
experience and expertise has given us the tools to support you when you need it
most, and our covid secure office means we are able to continue meeting and
working in safety.
Give us a call today on 01384 271858 or email us at [email protected].
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