FLAT-RATE EX­PENSES

Sunday Independent (Ireland) - Business & Appointments - - FRONT PAGE -

Next year could be the last year that you will be en­ti­tled to claim flat-rate em­ploy­ment ex­penses for. These flat-rate ex­penses, which are es­sen­tially tax re­lief you can get to cover the cost of ex­penses in­curred when car­ry­ing out your work, could be worth a few hun­dred — and some cases, a few grand — to you a year.

A num­ber of flat-rate ex­penses are how­ever set for the chop­ping board from Jan­uary 2020, in­clud­ing those for shop as­sis­tants, jour­nal­ists in em­ploy­ment, and car­diac tech­ni­cians. This is due to an on­go­ing re­view by the Rev­enue Com­mis­sion­ers into ex­pense-re­lated tax re­liefs. This re­view will be com­pleted by the end of 2019 — with Jan­uary 1, 2020 set to be the date for any changes in­tro­duced un­der this re­view to kick in. More than 80,000 employees are ex­pected to lose out as a re­sult of this re­view.

“Now is a good op­por­tu­nity for peo­ple to con­sider if they qual­ify for flat-rate ex­penses — and to make a claim for flat-rate ex­penses they’re en­ti­tled to for the last four years,” said Col­len­der. “Peo­ple who are new to a pro­fes­sion should find out any flat rate ex­penses they’re en­ti­tled to as they may not be aware these are avail­able.”

Re­mem­ber, should you lose your flat-rate ex­pense al­lowance from 2020, you can still claim back the cost of any work-re­lated ex­penses — but you will need to make this claim your­self, and pro­vide re­ceipts when do­ing so.

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