I was thinking along the same lines but Revenue have said they will adjust credits from 2022 to recoup any tax owed and may spread this adjustment over 4 years so it looks like they do intend to collect any outstanding taxes.
I was thinking along the same lines but Revenue have said they will adjust credits from 2022 to recoup any tax owed and may spread this adjustment over 4 years so it looks like they do intend to collect any outstanding taxes.I would just like to throw a small spanner in the works here, forthose who plan to claim this creidt AND who have been receiving the TWSS
Anyone who has been receiving the TWSS from their employer will most likely have a (potentially significant) personal tax liability for the 2020 tax year. This is due to the fact that the TWSS was paid to employees without deduction of any payroll taxes
In my opinion, Revenue will not seek to chase this money unless the taxpayer in question actively submits a tax return for the 2020 tax year voluntarily. I think the political fallout from such a move will not be worth the hassle
In the vast majority of situations, the tax liability on the TWSS will far exceed any tax relief available via the working-from-home tax credit so it may be more worthwhile in NOT claiming this credit. The same logic may even apply to claiming tax relief on medical expenses etc
This obviously doesn't affect people who already have to submit a tax return (eg company directors, people with rental income etc) but for the ordinary PAYE taxpayer with no other income it is worth considering
Now obviously Revenue may insist that they want a tax return from everyone who has received the TWSS but I personally think it's unlikely
Thanks for the info in this thread. Can i just clarify...if ones employer doesnt do the €3.20 thimg then you can claim against your own income tax bill. How do you calculate how much you can claim? Is it that you estimate size of office versus rest of house? Then apportion which bills?(electricity, heat, bbroadband)? And further apportion by number of days in the yr worked from home?
How does revenue challenge this? How do they assess reasonableness of office size?
Example:
Office is 20% of house.
Annual electricty and bb is say €1600
Wfh 170 days in yr
Claim = 170/365X1600X0.2=€149
Is this correct in theory?
I'll be claiming back the full cost of the electricity usage increase compared to same time last year. My bill has doubled so I'll be claiming 50% of the bill.
I'll be claiming back the full cost of the electricity usage increase compared to same time last year. My bill has doubled so I'll be claiming 50% of the bill.
Yeah it all adds up. 5 days working from home is 2.5 times as much as 2 days so it's very easy to see how the consumption can be 2 times as much as before. I'd have equipment and lights on for work Monday-Friday and they would consume way more electricity than the base load for my house. On the weekend only a fraction of the electricity would be used (as equipment and lights would be turned off). I don't know why that is so hard to believe, but I've got the bills here in front of me which are telling me that the actual consumption has doubled.Your situation seems remarkable.
You said earlier in the thread that you have been working 2 days per week at home for a year or more pre-Covid.
Now you're saying your electricity usage has doubled this year, by virtue of you working an extra 3 days a week from home (assuming you work a 5 day week).
Unless my arithmetic is letting me down (and assuming you're holding constant your personal domestic electricity cost between both years), this means that you use as much electricity in EACH day of working from home, as you do in the whole week for personal domestic use. What's your job, a bitcoin miner?!
I'll let you know how I get on. I'm prepared to submit my claim and my records to justify said claim.Claiming does not mean successfully obtaining a refund on the amount you submit. Be prepared to be disappointed.
Yeah it all adds up. 5 days working from home is 2.5 times as much as 2 days so it's very easy to see how the consumption can be 2 times as much as before. I'd have equipment and lights on for work Monday-Friday and they would consume way more electricity than the base load for my house. On the weekend only a fraction of the electricity would be used (as equipment and lights would be turned off). I don't know why that is so hard to believe, but I've got the bills here in front of me which are telling me that the actual consumption has doubled.
You are assuming that all 7 days would have the same amount of electricity consumed each day, but honestly I'd say 80 or 90% could be used Monday-Friday when I have equipment on for around 45 hours and during the weekend the equipment would be off and I'd use next to nothing by comparison.
Is your heating also running on electricity, by the way?
We run the gas off the electricity and the electricity off the gas and we save two hundred pounds a year.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?