Fixed rate allowances for trades

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Poodle
Poodle Registered Posts: 711 Epic contributor 🐘
in General accounting discussion
Hi

Does anyone know where I source this information from?

Poodle

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  • T.C.
    T.C. Registered, Tutor Posts: 1,448 Beyond epic contributor 🧙‍♂️
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    I don't understand - fixed rate allowances for what?
  • Poodle
    Poodle Registered Posts: 711 Epic contributor 🐘
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    Hi TC

    They might be known as FLAT rate deductions

    Apparently there is a table, some where of HMR&C allowable flat/fixed rate deductions for tax. I think that they may also be industry specific.

    For example a motor mechanic employed and suffering own costs eg using own tools could make an allowance claim of say £100 per annum without supporting evidence.

    There are allowances for cleaning as well

    Poodle
  • T.C.
    T.C. Registered, Tutor Posts: 1,448 Beyond epic contributor 🧙‍♂️
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    I don't know, but I would be interested if you find out!
  • TAB
    TAB Registered Posts: 39 Regular contributor ⭐
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    Hi Poodle,

    I think what you are looking for can be found at

    www.hmrc.gov.uk/manuals/eimanual/EIM32712.htm
  • T.C.
    T.C. Registered, Tutor Posts: 1,448 Beyond epic contributor 🧙‍♂️
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    Thanks - very useful info to have!
  • Poodle
    Poodle Registered Posts: 711 Epic contributor 🐘
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    Thankx TAB, much appreciated

    Poodle

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