It is possible to claim for the cost of repairing or replacing small tools you need to do your job as an employee (for example, scissors or an electric drill), or cleaning, repairing or replacing specialist clothing (for example, a uniform or safety boots).
If you need to buy other equipment to use in your employment, you can claim capital allowances instead. A capital allowance is an agreed percentage of the cost of the equipment, that can be deducted from your taxable income. In most cases, this sort of claim should enable you to write off the full cost of any qualifying expenditure made.
What you can claim
You can claim for the amount you have spent, or a ‘flat rate deduction’.
If you are claiming for the amount you have spent you will need to keep a receipt.
Flat rate deductions are fixed amounts that HM Revenue and Customs has agreed are typically spent each year by employees in different occupations. They range from £60 to £140 depending on listed occupations.
If your occupation isn’t listed, you may still be able to claim a standard annual amount of £60 in tax relief.
You don’t need to keep records of what you’ve paid for if you claim a flat rate deduction.
If your business employs people who need to spend small amounts of money throughout the year in the course of doing their work, it would be worth you making sure that they are aware that they can claim this deduction. If you need any advice then by all means get in touch with us here at Jones Harris for a no-obligation chat.