Wednesday Reads

Wednesday Reads: End of the Triple Lock?

A round up of interesting or cool stuff I’ve read.

Image by LEEROY Agency from Pixabay


Claim tax relief for working at home

I had previously read that people who are now working from home due to Covid-19 could claim a small amount of money back per week. However, the general consensus was that it was easier to apply for the tax relief once you had returned to the office, rather than claiming every few months, so I shelved the idea for next April.

I read today that HMRC have updated their policy, for this year only, in order to minimise their processing fees. If you have worked from home at all due to Covid, you can claim back the full amount for this entire tax year.

More details on the Money Saving Expert website, or go straight to the Government portal. It took me about two minutes to go through the process. Considering that it’s worth £60 if you’re a basic-rate taxpayer or £120 if you’re a higher-rate taxpayer, I consider that time well spent!


A further reminder that unless you’re already 50+, all manner of things regarding the UK State Pension could change.

The State Pension is already tiny relative to other developed countries, but the current triple lock means that it’s possible for it to rise quicker than inflation / wage growth. Removing the triple lock would presumably mean that the State Pension would continue to offer an absolute minimum standard of living and nothing more.

Encouragement, if it were needed, to continue saving and contributing to private pensions in order to avoid having to live off of the equivalent of only £175.20 per week on retirement.


Other interesting links that caught my eye this week:

Monevator share their Cheapest stocks and shares ISA hack. I’ve read previously that, once your ISA reaches a certain size (usually above £50,000) fixed fee brokers become cheaper than percentage-based brokers. However, using this “hack” reduces the cost even more! My ISA is approaching the point where I should probably consider switching my broker anyway, so I may well give this a go in the not too distant future.

Mrs SavingNinja gives an update on the pros and cons of moving abroad to Sweden – The Good, The Bad and The Ugly. I know first-hand that moving overseas, even temporarily, is not easy, but the adventure is usually worth the struggle.

Indeedably with some interesting ideas on earning money doing what you were going to do anyway.

CEO Secrets: Juggling kids and a new lockdown business – A BBC article on those who have set up a business during lockdown.

Sign up to Trading212 via this link and we both receive a free share.


Thanks for reading. Hope you’re all having a good week.

5 replies on “Wednesday Reads: End of the Triple Lock?”

I agree, the idea itself is not that radical. There’s no reason why the State Pension should increase by more than inflation, if inflation happens to be low. But I do think that people of all ages, especially my age and below, should be aware that the State Pension is not something that can necessarily be relied upon to take care of themselves when they retire.

Interesting stuff Doc. Do you think I could be liable for a tax cut if I have worked from home but not paid the bills myself? My rent include bills, so I guess my landlady should liable for the tax claim and not me?

That is a good question. After rereading the MSE link, I think that, as long as you are required to work from home and there have been increased costs as a result (whatever those costs may be), then you can claim. I doubt that your landlady can claim your tax refund though!

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