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.