READING THIS ARTICLE COULD SAVE YOU HUNDREDS OF POUNDS…
A tax refund or tax rebate is defined as ‘a refund on taxes when your tax liability is less than the taxes you have paid’. In simple terms, this means if you’ve paid too much tax to HMRC you can claim it back. By law, you are entitled to claim tax relief on certain costs of your job that are classed as “wholly and necessarily” for the purposes of your employment in the security industry. Examples of things you would be claiming back a tax refund for are:
- Travel to and from temporary workplaces
- SIA licence registration
- Purchase of uniform including safety clothing/boots
- Laundry cost of uniform
If you’re travelling to temporary workplaces such as short term sites and paying to make your own way there, you could be due a tax refund. This is also true if we have also paid you mileage allowance for doing so. On average, a 4-year tax refund claimed in this way amounts to £2,500.
You can claim back the tax you pay for SIA licence registration (usually £44-88 per registration). If you have to purchase safety clothing or boots or pay for your own uniform you can claim for the cost of these too. You can claim tax back for the laundry of your uniform at the standard rate of £60. You can claim tax back on the allowance at the highest rate of tax you pay, so you’d usually get 20% or 40% of that amount back, which would be £12 or £24 per year. Plus, you can also backdate the allowance over the 4 previous tax years – so it could be worth between £48 and £96 in total.
Often tax overpayments are from “hidden” things like not being reimbursed for the costs of travel or other work-related expenses by your employer. Without making a claim, HMRC will not know to send it to you. The system is a clunky one and usually without the guidance of an accountant or a company like RIFT Tax Refunds, it’s difficult to know what you could or should be claiming for.
Kevin Wootton, Regional Operations Director said “I first became aware of the fact I was due a substantial tax-refund when it was recommended that I speak to RIFT Tax Refunds by a ex-colleague earlier this year. After an initial (free) consultation with RIFT, I subsequently become the beneficiary of their excellent service claiming back three years of refunds for travel to clients’ offices and temporary work sites. I paid 28% of the total refund value for their assistance. They had to review three years worth of weekly expenses forms, requiring much liaison with HMRC. They kept me updated with the status of my claim(s) including providing both indicative refund amounts and payment dates. Considering all of the above, I felt their fees were more than acceptable when compared with the time I saved dealing with the entirety of the claim myself.
Post claim, RIFT have been great at keeping me informed of potentially costly changes to my personal tax-code and other employee benefits and tax related issues. I have no hesitation in recommending them to all GSS staff who do not have an accountant of their own or access to any other kind of tax advice/guidance.”
If you’ve worked at more than two sites in the last four years (for GSS or any other company) and used your own vehicle of public transport to get there or purchased any uniform in that time, it is worth a call to RIFT. You never know, it could save you hundreds of pounds…