How much tax rebate will I get for a toolbox?
Buying toolbox for work means a considerable financial outlay. A concrete investment in your future career, but a lot of money to pay out in one go.
So much so that, for the seasoned mechanic, it’s the sort of purchase that gets put off and make do fixes are applied to the old one.
But you can get a substantial tax rebate on your toolbox purchase working out at around 20% of the purchase price. You can use our free tool tax rebate calculator to estimate the value of your rebate.
HMRC does acknowledge that you will need to store the necessary tools that you buy for use at work in a suitable way.
As ever, the amount you earn and the subsequent amount of tax you pay all factor in to how much your toolbox tax rebate could be worth.
Toolbox finance tax relief
Most mechanics and auto technicians use finance agreements to purchase essential big ticket items. Finance payment tax relief allows you to claim tax relief on the interest payments within your finance agreements taken out within the last four tax years.
What tax rebates can I claim as a mechanic?
Mechanics are all individuals and every claim is dependent on that particular taxpayer’s financial position. But there are definitely some common tax reliefs and allowances that apply to the majority of auto technicians and mechanics tax rebate claims.
- Tools: either the Flat Rate Allowances for tools costing up to £120, or a Capital Allowances claim using their actual purchase price. Tools can be bought from big companies like MAC Tools and Snap On, online (including Amazon and eBay) or second hand. To get the more lucrative tax rebate, you need the proof of purchase evidence. HMRC’s ideal is a receipt or activity report.
- Uniform: Washing your work uniform and replacing items. As long as your employer does not provide laundry facilities. This is worth a set amount of £60 per year for mechanics.
- Protective clothing: Replacing items that your employer doesn’t reimburse you for, such as overalls and safety boots.
- Institute of the Motor Industry membership fees: The IMI is part of HMRC’s list of ‘Approved professional organisations and learned societies’. These organisations have all negotiated with HMRC to enable their members to have the benefit of tax relief on their membership fee.
- Trade Union subscription: Many Trade Unions are also part of HMRC’s Approved list. You need to check if your TU has come to an agreement with HMRC about tax relief on their subscription fee.
Toolbox tax rebate services
We offer an industry leading toolbox and tool tax rebate service which includes all the expenses associated with your work.
With hundreds of 5 star independent reviews we are here to manage your claim from start to finish. To start your claim fill in our online tool tax rebate contact form below or you can call us on 01228 520477 or email [email protected].
Tool Tax Refund Calculator
Calculate your Mechanics tax rebate today
Use the tool tax refund calculator to find out how much you can reclaim. Just enter the total of how much you’ve spent on tools and the calculator will let you know how much you can claim.
- How many years can I claim for?
- I’ve gone self employed – can I still claim tool tax relief?
- Can I claim for my uniform?
- I have claimed before, can I claim again?
- What is a tool allowance?
- What are capital allowances?
- Can I claim tax relief on my finance payments?
- What do I need to claim a mechanics’ tools tax back?
- What is EIM 36870?
- Mechanic tool tax rebate claim process
- Can a Mechanic claim tax relief on software agreements?
- Does making a tool tax rebate claim affect my employer?
- Can I claim a tax rebate for a toolbox?
- Can I claim for tools bought on finance?
- Can I claim a tool tax rebate for MAC tools?
- Can I claim a tool tax rebate for Snap on tools?
- Can you claim VAT on tools?
- Why use Tax Rebate Services for your tool tax rebate claim?
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- Can I claim tax back on tools bought for work?
- Will I automatically get a tool tax rebate?
- Can I claim a tool tax rebate and uniform tax rebate at the same time?
- How much will I get for a tool tax rebate?
- How much tax refund will I get as a mechanic?
- How far back can I claim a tool tax rebate?
- Can I claim a tool tax rebate for tools I bought today?
- Can I claim a mechanic tax rebate every year?
- How much does it cost to claim a tool tax rebate?
- Is a mechanics tax rebate automatically refunded?
- Can I use my mechanic tax rebate to buy more tools, then claim again?
- Are tools tax deductible?
- How much can you claim for tools without receipts?
- Can I claim my tools on my tax return?
- Can I claim a tax refund on tools and fuel at the same time?
- Do I qualify for a tax rebate on tools if I’m not self employed?