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Tax Rebate for a CIS worker in the UK

  • 13-10-2010 3:20pm
    #1
    pipelaser
    Registered Users, Registered Users 2 Posts: 581 ✭✭✭


    Hi Guys
    Just wondering if someone can help me here.

    Im a self employed construction worker in the UK. Im putting in my tax rebate for the moment.

    I have saved all my tube tickets from over the last year and im putting them in to my accountant.

    A friend told me that I will get back money for the total expence i paid for the tube. That means about £20 a week.

    Is this right?

    Do I not just get back the tax paid on the tube ticket???


Comments

  • #2
    Simplyjoe
    Registered Users, Registered Users 2 Posts: 36 ✭Simplyjoe


    Assuming your place of business is established as your home then the cost of the tube can be offset against your income. Say your income is £20,000 and the tube costs £1,000 and say other allowable expenses comes to £3,000 the you would be taxed on £16,000. So in effect you save the price of the tube tickets multiplied by your marginal tax rate. Say this is 20%. In the example above you would have saved £200.


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