Martin Lewis: Money Saving Expert says Britons can claim over £100 for working from home

Martin Lewis is a financial journalist who made millions providing advice to members of the public. He has helped many with their finances, especially during the coronavirus crisis.

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Martin revealed Britons can claim back money fro working from home.

He told viewers: “Were you working from home? Claim TAX back on added costs: If your employer required you to work from home, as many have done in recent months, and that means you’ve had increased costs, eg, heating and electricity, you’re entitled to claim either tax-free extra cash from your employer or, a tax break.”

Britons can claim £6 per week. Most Britons have been working from home since March 16.

This adds up to 18 weeks of working from home and a total of 116.

Martin went on: “And you don’t need receipts for expenses of up to £6/week.

“So, you can have that bit of your earning without tax on it.”

The perfect time to claim is when or after you return to work see Martin’s “Claim tax back for working from home” blog with full help on how to do this and fill in the Govt’s P87 form.

You will need a recant P60 to apply.

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Martin also revealed the best three saver accounts today during his television appearance.

He said: “Millions have money sitting in high street savings accounts earning diddly-squat, often at 0.1 percent or less, and are scared to move it as they want safety. If that’s you, stop it.”

What are the top savings accounts?

NS&I Income Bonds

1.16 percent AER (min £500). It’s the top payer. While the name’s strange, Income Bonds are just easy-access savings, and can be operated online.

Deposits and withdrawals must be in blocks of £500+, and interest is paid monthly into a separate account (so you don’t earn compounded interest). Max savings is £1m/person.

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NS&I Direct Saver

One percent AER (min £1). The Direct Saver is simple and can be operated online.

You have full flexibility on withdrawals and deposits, while the interest is paid into the account annually and compounds. Max savings is £2m/person.

NS&I Investment Account

0.8 percent AER (min £20), post only.

The Investment Account works like the Direct Saver, except you operate it by post – including withdrawals. Max savings is £1m/person.

Martin Lewis advised how to get discounts at McDonald’s.

In his latest weekly MoneySavingExpert.com Money Tips email, Martin Lewis shared the best deals.

Hungry customers could save around 50 percent on the cost of their meal.

Many receipts have a ‘Food for Thoughts’ code that can be entered online for a discount.

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