ao link
TTG - Travel Trade Gazette
For Smarter, Better, Fairer Travel
Search
User Menu
Remember me

New to TTG?

Campaign Business Media Brand of the Year 2020
Travel Media Awards Trade Publication of the Year 2020 - Print & Online

Have you paid too much tax during the pandemic?

Many travel agents could be due a tax rebate due to lack of earnings. Tommy McNally, founder of TommysTax.com, explains how agents can go about claiming their tax refund

With the travel industry so hard hit by the pandemic there is a good chance that you’ve overpaid on your tax and are due a refund. Our clients are getting, on average, £3,000 refunded this year. So how do you find out if you’ve overpaid on tax and how do you claim it back?

 

Tax is calculated on your estimated earnings for the year ending 1 April, divided into 12. If you were made redundant over the past year, or have a lower income than anticipated, then you’ve probably earned less than HMRC has taxed you on.

 

There is also a good chance that your claimable expenses have increased, particularly if you’ve been working from home. Below are some tips to find out whether you’ve overpaid tax and what expenses are claimable against tax.

To continue reading...

Please log in below or join now for access.
For assistance contact support@ttgmedia.com

Our Next Events

Virtual Luxpo

Virtual Luxpo

TTG Aussie Fest

TTG Aussie Fest

The Travel Industry Awards by TTG

The Travel Industry Awards by TTG

TTG - Travel Trade Gazette
For Smarter, Better, Fairer Travel
TTG Media Limited.
Place of registration: England and Wales.
Company number 08723341.
Registered address: 6th Floor, 2 London Wall Place, London EC2Y 5AU