Martin Lewis reveals how to cash in on up to £2000 in government bonuses in next three weeks

Martin Lewis has revealed that many Brits could be missing out on money they’re entitled to through tax refunds and government bonuses – but they have to act fast.

The money expert, who’s previously shared nifty loopholes to get your Sainsbury’s shopping ‘free’ and tips to avoid Netflix’s price hike, explained on his ITV programme, The Martin Lewis Money Show, how to cash in on end-of-year tax rewards.

He warned that the ‘clock is ticking’ and it’s actually your last chance to file a claim for some of the rewards, which can benefit married couples, first time buyers, people working from home, and those with savings in the bank.

‘Right now, on many things, you can go back to the 2016/17 tax year but in three weeks’ time, on 6th April, you’ll only be able to go back to the 2017/18 tax year,’ he explained.

‘That means, if you don’t do something quick, you risk missing out.’

Marriage tax allowance

If you got married in the 2016/17 tax year, you have a few weeks left to claim a £250 refund.

It allows people with an income of £12,500 or less to transfer up to £1,250 of their Personal Allowance to their spouse, if their income is higher.

Martin explained that this can be backdated for four years, adding: ‘It’s worth £250 a year but this is your last chance to claim for the 2016 to 2017 tax year.

‘It takes just two minutes to file a claim on the government website.’

Uniform tax rebate

If you’re required to wear a uniform at work, and your employer doesn’t pay for it, you might be able to claim some money back on it.

Claiming for five years of expenses could earn you back £60 in total, as you can  current standard flat-rate expense allowance for uniform maintenance (£60 per year).

Basic-rate tax payers can claim 20%, which works out to £12 per year, while higher-rate tax payers can claim £24.

Martin added: ‘If you wash the uniform yourself, you could get up £60 back in the form of a uniform tax break if you backdate it for the full four years.’

Meanwhile, people in certain occupations, including pilots, cabin crew, and people in the army, RAF, or Royal Marines, should be able to claim back more.

Work from home tax relief

If you’ve been working from home in the past year, you can claim tax relief up to £125.

Your employer can pay you £6 more per week tax-free to cover expenses.

For a basic-rate tax payer, this can be up to a total of £60, or £125 for a higher-rate tax payer.

‘This is in the form of work from home tax relief – and it applies even if you’ve worked just one day from home in the past 12 months,’ Martin explained.

TV Licence fee

While the TV licence fee is going up by £1.50 next year, Martin has pointed out that some over-75s don’t need to pay it at all.

If you claim pension credit, you are entitled to a free TV licence.

Meanwhile, people who don’t watch live TV, or anything on BBC iPlayer, might be able to avoid the change.

Council tax

It’s worth checking if you could be eligible for a discount or refund on your council tax, especially students and people living alone.

You could be paying too much money on your council tax if you’ve been placed in the wrong band, but you need to do your research on this one – you could end up paying more money if you’re found to be in too low of a band.

ISAs

Martin has explained that Brits under 40 can get a £1000 government bonus through a lifetime ISA account.

You’re eligible for the bonus if you use the savings towards your first home, or retirement.

He added that it has to be open for a year, adding to parents: ‘If you’re a parent and your child is hoping to buy a home one day – possibly in the next few years – open one now, you only need £1 to get started.’

The Martin Lewis Money Show is available for catch-up on the ITV Hub.

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