it could involve repayments to many thousands of people running into millions of pounds
For a sector so badly affected by the economic downturn, the rise in fuel duty will be particularly painful for the construction industry. However, for some construction workers who use their own vehicles to travel from site to site there is the possibility of claiming back their travel expenses from the tax man. Needless to say this is not something that the Revenue is anxious to publicise as it could involve repayments to many thousands of people running into millions of pounds.
Explains Jan Post, managing director of specialist tax consultants Rift Ltd: “In the construction industry workers may move around from site to site, often using their own vehicles and sometimes staying away from home for lengthy periods of time. What they may not realise is that many of the expenses they incur are tax-deductable. Quite often even those on PAYE think that all their tax is taken care of by their employers, but this is not so and many construction workers often find themselves paying more tax than they need – sometimes for many years.
“At Rift we can examine an individual’s records and make claims on their behalf going back as far as six years. When you think that sometimes the amounts claimed can be as much as £800 for each year this represents a great deal of money”.
At a time when every penny must be made to count the last thing anybody wants to do is to pay more money in tax than is absolutely necessary. Yet this is what thousands of people are doing, and unless they take action to recover what is owed to them they will never see a penny of it.
Further information from:
Jan Post: 07801 750990
Alice Spink: 01622 851330
This press release was distributed by ResponseSource Press Release Wire on behalf of Windmill Communications in the following categories: Personal Finance, Business & Finance, Construction & Property, for more information visit https://pressreleasewire.responsesource.com/about.