Three Ways To Spend Your Early Tax Rebate
Believe it or not, today is the first of December. The beginning of advent, the start of the last month of the year and early tax rebate day.
That’s right; from tomorrow we’re beginning to process early tax rebates for anyone who applied to have their early tax rebate in December. If this sounds like you, you could be getting your rebate in the bank pretty soon!
The average Christmas costs each household in the UK £796, so with the average early tax rebate amount being up to £900 – there will be a lot of Brian Alfred customers enjoying a very merry Christmas this year! We’re pretty sure you already know how you’ll be spending your early tax rebate, but just in case, we wanted to give you some ideas. So whether you want to treat yourself, your family or even upgrade your tools, read on for a few ideas of how your early tax rebate could be spent. After all, how often is it that you get this much extra money, with no hidden costs, before the end of the year?
Spend it on a family Christmas
Recent research* discovered that half of parents go over-budget when buying their children Christmas gifts, with mums spending an average £195 per child and those generous dads amongst us spending £216. Add this over-spending to the pressures of the festive season and many of us are left in a financial pickle once January rolls around. An early tax rebate can go a long way to ensuring you’re not tempted to borrow or spend more than you can afford this Christmas.
Whilst the good news is that Christmas 2016 may be the cheapest ever, the festive period is still an expensive time for food, drink and travel as many of us catch up with friends and family. An early tax rebate can go a long way in helping you to enjoy these occasions without feeling any guilt.
Use it to take some time off
It can be difficult to turn down a contract around Christmas time, especially if the client is willing to pay you double your usual rate. Whilst this extra income can be tempting, it often means less time spent at home with family and friends. Getting an early tax rebate means you can have the extra income without having to work, so you can spend more quality time at home!
Upgrade your toolkit
You’ve been putting money aside each month, you’ve budgeted for everything and there’s no way you’ll be going overboard this year? Great! Sounds like you won’t need to use your early tax rebate to fund the festivities, but you could use it to improve your working day.
It may seem a bit silly to use a tax rebate on more work related items, considering you’ll want to claim the costs back again in April next year but if your tools are a little old and battered, your van could do with a spruce up or your boots are looking a bit worse for wear, why not? Treat yourself – it is Christmas after all!
For more details about Early Tax Rebates and to see if you qualify, visit our Early Tax Rebates page.
*Research conducted by Safe