tools tax rebate

[Superspark23]

I was talking to some one on site the other day and he said thats its possible to get a tax rebate if you buy tools to use at work, out of your own money. Has any one else heard this? I've spent loads on tools since starting a couple of years back. I dont get tool allowance or anything at my company.

 

[trev]

I used to do it through an umbrella company when doing agency work but you'll be better off asking an accountant mate.

 

[Dan23584]

Before I started working for myself I used to claim for tools and anything I needed for work that the company didn't provide. So yes mate, its very true.

 

[Knobhead]

Do a search on tool allowance on here, I’m not writing it out again.

 

[robsparky1975]

Even if you work on the cards i think you are allowed a rebate per year,i think i tried taxrebate services.co.uk,and i was looking at getting a little rebate,its not going to be a great amount but better in your pocket and you are entitled to it.

 

[Rockingit]

Everyone who pays tax has the right to file a tax return each year, even if you're 'on the books' for someone and not self employed. Its not really in the governments interest to advertise this fact!!

On it, you are entitled to claim back tax relief on a whole range of things relating to how you get your money to start with; so tools ('capital expenditure'), clothes/uniform, cleaning/laundery, certain parts of travel and subsistence costs, phone calls, materials that you have bought as a part of doing a job (for example if you do something on the side)....the list is fairly long and extensive. BUT - play fair, and do expect that you might get a letter from HMRC asking for some documentation to back up any claims you make.

I am not an accountant and am not offering financial advice. You need to talk to your own.

 

[Deleted member 26818]

I was talking to some one on site the other day and he said thats its possible to get a tax rebate if you buy tools to use at work, out of your own money. Has any one else heard this? I've spent loads on tools since starting a couple of years back. I dont get tool allowance or anything at my company.

Yes you can.
You have to fill in a Self Assessment form.
You may have to fill in a form for each year you have purchased tools, to avoid only being allowed second hand prices.
Currently you can claim the full cost of a tool up to £50,000. Anything that costs more, has to be placed in a pool, and a percentage claimed each year.