Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi all! We have been experiencing an issue on site where threads have been missing the latest postings. The platform host Vanilla are working on this issue. A workaround that has been used by some is to navigate back from 1 to 10+ pages to re-sync the thread and this will then show the latest posts. Thanks, Mike.
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Flat rate expenses

  • 15-12-2020 11:38am
    #1
    Vision 2017
    Registered Users Posts: 8 ✭


    I was looking up flat rate expenses on revenue. I’m a electrician under the Engineering Industry with a flat rate expense of €254 [ All unskilled workers and skilled or semi-skilled workers who do not bear the full cost of own tools and overall]

    Does the €254 go on to your rate band1 @20 tax or is a tax credit.

    Thanks for the help


Comments

  • #2
    Stratvs
    Registered Users, Registered Users 2 Posts: 958 ✭✭✭Stratvs


    You get a tax credit of €50.80 ( 254x20% ) and an increase in the rate band of €254. So ultimately it is allowed at your marginal rate. For a 20% taxpayer it's worth €50.80 and for a 40% taxpayer it's worth €101.60.


  • #3
    pnecilcaser
    Registered Users Posts: 95 ✭✭pnecilcaser


    Really surprised the electrician flat rates are that low, teachers get more than that and they can wear their "work clothes" anywhere


  • #4
    Will Yam
    Registered Users, Registered Users 2 Posts: 671 ✭✭✭Will Yam


    pnecilcaser wrote: »
    Really surprised the electrician flat rates are that low, teachers get more than that and they can wear their "work clothes" anywhere

    Electricians aren’t as stroppy as teachers.


  • #5
    Banana Republic 1
    Registered Users Posts: 3,328 ✭✭✭Banana Republic 1


    Vision 2017 wrote: »
    I was looking up flat rate expenses on revenue. I’m a electrician under the Engineering Industry with a flat rate expense of €254 [ All unskilled workers and skilled or semi-skilled workers who do not bear the full cost of own tools and overall]

    Does the €254 go on to your rate band1 @20 tax or is a tax credit.

    Thanks for the help

    Credit


  • #6
    endacl
    Registered Users, Registered Users 2 Posts: 22,354 ✭✭✭✭endacl


    pnecilcaser wrote: »
    Really surprised the electrician flat rates are that low, teachers get more than that and they can wear their "work clothes" anywhere

    On the other hand, most that I know don't claim the flat rates. I mentioned it to a few colleagues who weren't aware of it a few years ago. Turns out that only two of us have ever claimed it. I'd bet dollars to doughnuts most of them still haven't. It's the kind of thing most people file under 'must get around to that'.

    That said, I'm sitting here in my work clothes at home. In front of laptop, waiting on students to log on in the week before Christmas. This evening's teaching will most likely be farting around on boards with an empty meeting open in the corner of my screen till knocking off time...


  • Advertisement
  • #7
    Will Yam
    Registered Users, Registered Users 2 Posts: 671 ✭✭✭Will Yam


    endacl wrote: »
    On the other hand, most that I know don't claim the flat rates. I mentioned it to a few colleagues who weren't aware of it a few years ago. Turns out that only two of us have ever claimed it. I'd bet dollars to doughnuts most of them still haven't. It's the kind of thing most people file under 'must get around to that'.

    That said, I'm sitting here in my work clothes at home. In front of laptop, waiting on students to log on in the week before Christmas. This evening's teaching will most likely be farting around on boards with an empty meeting open in the corner of my screen till knocking off time...

    Depending on your circumstances, the flat rate can be quite worthwhile.

    If you haven’t been claiming it, I’d file a retro claim for 4 years. Be sure to do it before the end of the year.up to then you can claim for 2019, 2018, 2017. & 2016.

    After December 31st you can’t claim for 2016.


Advertisement