Tax Relief

Martin Lewis Confirms Work On Dwelling Tax Break Will Proceed By means of 2021/22 – Full Particulars | Private finance | Funds

Martin Lewis advised millions of workers through 2020 to seek tax breaks if the coronavirus forced them to work from home. The money-saving expert confirmed today that this support will continue in the coming year.

Martin continued, “Well, this is true, if you’ve worked from home for a day, you can have year-round relief as long as it was necessary.

“Originally, this was only a Covid provision for the last tax year 2020/21. But shortly before the start of the new tax year, which started just a month ago, we learned that this now also works for 2021/22.

“So if you work from home one day in this tax year, you can receive the full annual allowance.

“If you haven’t applied, you can apply for the final year this year as long as you have to work from home for at least one day and reapply if you’ve already applied.”

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Martin concluded by breaking down how these claims could be made and how much they could save workers: “You do this with the gov.uk microservice, you get it automatically for the whole year, the tax break is £ 62 per annum year for a taxpayer with a property tax rate.

“So that’s £ 124 for the two years, more if you’re a high tax payer.

“”[It’s] This is done by changing your tax costs such as B. Marriage tax breaks, although you will likely get a check back for the final year.

“The only problem with doing a self-assessment is you have to do it on your tax return. You can’t use the microservice.”

Commenting on these findings, Matt Hutchinson, Director at SpareRoom: “Work is one of the cornerstones of our lives and Covid has forced people to question their relationship with their job.

“For many, this means that the most coveted job is now a job that offers security, a good work-life balance and of course the opportunity to work from home – even if this is not always the case.

“However, it is particularly unattractive to be in the office five days a week – in that half would consider changing jobs in this situation.

“Work is also one of the biggest drivers in the rental market. People prior to the pandemic moved to work or study. Now people are starting to think about what their lives will be like in the future, and the prospect of remote working opens up all sorts of possibilities. Us have already seen a downward shift in demand for rooms in London while other regions of the UK see an increase. “

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