Can I claim a tax rebate for a toolbox?
A toolbox purchased for work purposes is classed as an eligible expense meaning a claim for capital allowances is possible.
It is only reasonable to expect that if you buy tools for work purposes that you will need a suitable storage solution to safely keep them in. The cost of a tool box is often high with many mechanics and other professionals needing to purchase them through a finance agreement with a reputable tool provider like MAC tools.
The cost of the toolbox is not relevant so even if you have spent many thousands of pounds it should still qualify as long as it was bought for work purposes and you were not reimbursed in full by your employer.
Toolbox tax relief on Interest payments
At the same time as making a tax rebate claim for your tools and toolboxes tax relief can be reclaimed on the interest element of any finance payments made within the last four tax years. For this reason it is always worth keeping a copy of your finance agreement because this is needed as evidence and shows the breakdown of how much interest you paid on the purchased item.
Start your toolbox and tools tax rebate today
Our tax rebate experts can help you claim a tax rebate for your tool boxes, hand tools, diagnostic equipment and software and for maintaining your PPE.
To start your tool claim you can submit our easy contact form below, call our team on 01228 520477 or email support@taxrebateservices.co.uk.
It doesn’t matter what your job is if you buy tools for work you can claim a tax rebate. Just enter the total of how much you’ve spent on tools to get your tax rebate estimate.