THE cost of living crisis is set to hit us all in the pocket from April.HANNAH SMITH shares eight simple tax breaks that you could be missing out on that could save you cash.
9We share the 8 simple tax breaks you could be missing out on that could save you cash
Marriage allowance
IF your other half is a lower earner, you could pocket £252 a year with the marriage allowance.
If you are married or in civil partnership then you can share ten per cent of your partner’s personal tax allowance (the amount they earn without paying tax) to cut your bill.
9If your other half is a lower earner, you could pocket £252 a year with the marriage allowanceCredit: Getty
You must be a basic-rate taxpayer and your partner must earn less than £12,750 a year.
You need to apply online to HMRC to get it, but once set up it runs automatically each year.
“It’s possible to backdate a claim to April 2017, so you could claim for up to five tax years,” explains Lisa Tipton, of the New World Financial Group.
HOW MUCH? £1,200-plus over five years.
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Tax-free childcare
CHILDCARE costs a fortune, but you could get help towards it with tax-free childcare.
You could claim if you’ve got an under-11 living with you, and you and your partner both work.
9You could get help towards childcare with tax-free childcareCredit: Getty
If one of you is ill, disabled or on leave, you may still qualify – but not if you already claim benefits such as Universal Credit.
For every £8 you pay in, the government chips in £2, and you can claim up to £2,000 each year per child, or up to £4,000 if your child has a disability.
To grab the cash, set up an account through the government’s website and use it to pay your nursery or childminder, who must be signed up to the scheme.
HOW MUCH? £2,000 per child, each year.
WFH allowance
IF you often work from home, including because of Covid, you can claim £6 a week tax-free to help cover the cost of utilities such as heating, electricity and broadband.
A basic-rate taxpayer gets £62.40 a year with this allowance. Claims can also be backdated for a year, so you could get up to £125.
9If you often work from home you can claim £6 a week tax-free to help cover the cost of utilities such as heating, electricity and broadbandCredit: Getty
You can apply for it on the government website, but be quick: “This benefit is likely to end soon due to a rise in costs due to the number of claims,” warns Lisa Tipton from New World Financial Group.
You have until April 5 to claim the allowance. Last year 800,000 employees working from home claimed the tax back.
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