What does a Flat Rate Tax Deduction mean? - Tax2u Ltd

What does a Flat Rate Tax Deduction mean?

What does a Flat Rate Tax Deduction mean?

This means an amount of money that a taxpayer can get towards tax relief . For example, the minimum deduction for the cost of washing your uniform is £60 per year. This means that if you pay tax at the standard rate band of 20%, then you are due a refund of £12 (£60 x 20%). A higher rate taxpayer would be due a refund of £24 (£60 x 40%).