What is P87 form

Everything you need to know about the P87 form

Another HMRC form right? Yes, you’ve got it – a P87 is another HMRC form, which is used to claim tax relief on any work expenses you might incur during the course of doing your job. Let our helpful guide tell you all you need to know about the P87 form and if you still have any questions or wonder whether this applies to you, then give our friendly and professional team at DSR Tax Claims a call on 0330 122 9972 and let us help you out.

So, what is a P87?

A P87 form allows you to claim back any work expenses you might have incurred during the tax year. It only applies to you if you are an employee, paying your tax via the PAYE scheme. If you are self-employed, you need to use the Self-Assessment system to inform HMRC of your expenses.

A P87 form can only be used if your expenses are below £2,500 in any given tax year otherwise you will need to use the self-assessment system to inform HMRC about your expenses, even if you are a PAYE employee.

If you haven’t paid any tax that particular tax year then you shouldn’t use the form. HMRC can only repay expenses if you have paid tax – if you haven’t, HMRC won’t refund you.

You need to use a separate P87 form for each job you are claiming expenses for – you shouldn’t lump them all together on the same form.

What happens if HMRC need more information from you?

Sometimes after you have submitted a P87 form, or DSR Tax Claims have submitted one on our behalf, HMRC will decide they need more information to process your claim. If that is the case then they will send out a standard enquiry letter and unfortunately, won’t pay out your refund until you have replied to them. That needn’t stop you from making a claim for another tax year though – one of our expert team at DSR Tax Claims will guide you through that process and will advise you if in our expert opinion, it would be better to wait for HMRC to pay your earlier refund. There’s no need to worry though – we will guide you through the whole process and make it as simple as possible.

And then what?

If you claim directly through HMRC and your claim relates to this current tax year then you won’t receive a refund but HMRC will amend your tax code so that you get your money back that way. Of course, we know that not everyone wants to wait around until the end of the tax year and with DSR Tax Claims you don’t have to. You can claim your maximum refund fast by calling us on 0330 122 9972 and once you have approved our refund calculations, you could have the money in your bank account within 21 days!

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