5 Top Tips To Help Your Finances
Right now the UK is feeling the financial strain. Inflation prices are rising by 9.1% with The Bank of England warning it might reach 11% within months. This along with the energy price cap which has been raised by 54%, only to be raised again by an estimated 46% in October, and the fluctuating fuel prices, the cost of living is becoming severe.
That is why it’s important to be aware of some of the claims you could be making to help you out financially. We’ve listed a few claim tips below.
Marriage Tax Allowance
If you're married or in a civil partnership, you could be entitled to a £1,242 tax break called marriage tax allowance.
If you're eligible and your application is successful, you will also get the tax break each year going forward so there will be no need to keep reapplying.
Plus, as well as receiving the current year's allowance, you can also backdate your claim by up to four tax years too. This is currently 2018/19, 2019/20, 2020/21 and 2021/22.
Working From Home
If your company has required you to work from home, then you may be eligible to claim back on increased utility costs such as heat or electricity used at that particular time.
It’s estimated that around three million people made a claim in the 2020-21 tax year.
Uniform tax is if your work requires you to wear a uniform or protective clothing and you have to wash or repair it yourself, then you may be due a tax refund from HMRC.
You could be eligible if you wear a uniform that signifies your occupation, such as a branded T-shirt, a nurse’s uniform, or a police uniform. Also, if it’s a requirement to wear your uniform on the job or your responsibility to buy, clean, fix, or upgrade your uniform then you have potential to make a claim.
PCP Car Finance Claims
If in the last six years, you were not made aware of any commission being charged when organising your car finance, or if the advice given was considered poor or negligent, then you may have been a victim of mis-sold car finance.
Some dealerships are overcharging customers £1000s in interest charges in order to gain larger commission pay-outs. According to the Financial Conduct Authority (FCA), this is unacceptable.
The quickest way to see if you’re eligible is by entering a few details.
If you've been the owner of a diesel car or van in England or Wales that was made between 2007 and 2018, you may be eligible to join a group legal claim over emissions and that’s even if you owned it outright or bought it on finance. Learn more about making a diesel emissions claim here.
The emission scandal, otherwise known as ‘dieselgate’, saw hundreds of thousands of people being mis-sold vehicles and law firms suggest you could be due £1,000s in compensation.
Hopefully these claims which you may not have been aware of, could help you financially and ease some of the strain. For more advice on these claims or to see if there are any others that might be applicable, visit our full page here.