Flat Rate Expense - Tax Credit

S

smohapat

Guest
Hi..

Can any one advice if I am eligible for Getting Tax Credit for Flat Rate Expense.

I am a Mechanical Engineer but I work in IT Industry as IT Consultant.
I do see an option in the flat rate expnse claim ->
Engineering Industry [and Electrical Industry from 1997/98]
All unskilled workers and skilled or semi-skilled workers who do not bear the full cost of own tools and overalls

Would Ibe eligible under the above ?

Thanks..
 
Flat rate expenses are not a tax credit , but are an allowance .

If you are claiming previous years , this allowance will be deducted from your gross pay before computation.

If you are claiming current year , this allowance will increase your Standard Rate Band .

So when you see a figure of say € 331 for Engineering Industry , this figure is an allowance and not a tax credit .

To simplify this , it can be converted to a tax credit of only € 66

Why not go ahead and claim , and set out your employment conditions on a separate note , and the tax office will decide your entitlement .
 
I also have a question about these flat rate expenses

http://www.revenue.ie/en/tax/it/employee-expenses.html#section1

it seems if I were to work in the RTE National Symphony Orchestra or the RTE Concert Orchestra I would be entitled to €2,476. Yet if I were a kitchen porter in a restaurant I would get €21 !!

http://www.revenue.ie/en/tax/it/leaflets/flat-rate-expenses.xls

Is this not "Unfair"! life is tough I know but it seems just another way the higher paid are given the upper hand over people on lower wages.
 
If you get a job as a kitchen porter, presumably your employment will not be conditional on you buying and maintaining expensive musical instruments for use in your work?
 
Yearly spot Euro rate for HM revenue

I am doing a tax return for HM Revenue, I have some saving in euro and need to exchange it into sterling for tax purposes. Dose anyone know the linke for HM revenue yearly rate for 2009/10.

Thanks
 
fsh, I should have started my own thread. however it is always good to have a coffee with such taxings matters.

Can you let me know if I got the right thread to my question above.

www hmrc gov uk/exrate/european-union

also why is there 2 sport rates for each year and which one should I take for my purpose. thanks.
 
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