Inflation Hits Highest Level Since 2008 Causing UK Grocery Prices To Reach 11.6%
According to Kantar, the price of a weekly shop has risen 11.6% in four weeks. That’s the highest rate of inflation since the market group started tracking fourteen years ago.
The head of retail and consumer insight at Kantar told Guardian.com
“We’ve now hit a new peak in grocery price inflation, with products like butter, milk and poultry in particular seeing some of the biggest jumps.”
The Government has announced a plan for all households in England, Scotland and Wales to receive an energy payment of £400 to combat the rising fuel bills this autumn. However, the increase in prices is putting pressure on households already struggling with the rising energy bills and petrol prices.
Here are some methods that could help fight the cost of living and help you claim back £100s.
Tax Rebate for Uniform Wearers
If you wear a uniform at work that requires you to wash, repair or replace it yourself, you may be eligible to reclaim £100s of tax.
This applies to a range of careers such as pilots, police, nurse’s or even if it's just a branded T-shirt. Read our full Uniform Tax Rebate guide.
Working From Home Tax Relief
If your company has required you to work from home, then you may be eligible to claim back increased utility costs such as heat or electricity used.
To help cover the added costs, HMRC is offering you to claim tax relief. It’s estimated that around three million people made a claim in the 2020-21 tax year.
Visit here for more information on Working From Home Tax Relief.
Marriage Tax Allowance
If you’re married and one of you earns less than the maximum personal allowance whilst the other earns more, you could use the marriage allowance to make annual tax savings of up to £252 (depending on current rates of tax).
You can arrange with the HMRC to transfer up to £1250 into your partner’s account, which will then allow you the flexibility to use the personal allowance to your joint advantage – one of the few financial rewards you get from the UK Government for being married or in a civil partnership.
For more information, visit our Marriage Tax Allowance guide.
These methods could see you claim back hundreds and help ease the current cost of living.