TAX REBATE TIP - ALLOWANCES

Did you know that the majority of our clients, once we review their situation, have lost thousands of pounds due to not using the full scope of their allowances? Tax rebate tip number one. Use your allowances? So many of us love to complain that we don't get a fair crack of the whip from our illustrious leaders in government but let's be honest. Can we really complain if we don't take full advantage of the allowances we do have. Read on to find out how best to maximise the effectiveness of just one of them.

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self employed tax rebate
EXAMPLE

Here's a simple example. When you do your annual tax return, in order to achieve a tax rebate most folk calculate their vehicle expenses in the 'traditional' manner, i.e. count up all your receipts, mechanics bills, fuel costs etc etc..

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self employed tax rebate
A BETTER METHOD

We find that in many cases if we switch the client to using an 'alternative' method called the 'mileage allowance' method we can make the client more of a tax rebate. For instance, if you have done 10,000 work related miles, we can qualify you for £4500 of tax relief. And that's usually a lot more than the traditional method would give you. Remember however that work related mileage does not include the daily commute. So, only trips from your permanent place of work such as your head office or your depot to external sites such as the location of whatever contract you are involved with.

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self employed tax rebate
MOVING FORWARD

The bad news? Most accountants use the traditional method. The good news? We can go back as far as four years, make the necessary adjustments, and retrieve for you all of that unpaid tax rebate.

To get started? Simply click CLAIM NOW.