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Finance Expert Sarah Pennells has some invaluable information on extended warranties.

• Understand what an extended warranty is. Extended warranties vary widely. Some are similar to the manufacturer’s guarantee, others have more benefits, such as accidental damage cover, a promise to replace the faulty item within 48 hours or technical support.
• Do you need a warranty at all? Some items, such as fridges and TVs tend to be very reliable. Which? found that 82% of toasters were fault free after six years (but some shops still sell extended warranties for toasters!).
• Weigh up the costs of the warranty. An increasing number of warranties let you pay for them monthly. The amount you’re paying every month can seem quite reasonable, but over four or five years it can really add up.
• Don’t be pressured into buying an extended warranty when you buy the item. You don’t have to buy an extended warranty at the same time. If the shop quotes a price for the warranty, that price must be valid for 30 days. Some shops give you longer to buy an extended warranty (for example, Currys/PC World gives you up to 12 months) and you can buy standalone warranties for appliances up to eight years old.
• You can shop around for your warranty. As well as the retailer, manufacturers may offer their own extended warranties, which may be very similar. There is also at least one standalone company providing warranties for a range of household appliances.
• Be aware when you can cancel. If you buy an extended warranty lasting for more than 12 months, you can cancel it within the first 45 days and you’ll get all your money back.
• Know your consumer rights. In the UK we have good consumer protection against faulty goods. Your rights last for up to six years (five years in Scotland) if the item develops a fault. If you buy something and it develops a fault within the first six months, it’s up to the retailer to show it wasn’t faulty when you bought it, rather than for you to show it was.
• Claim any extended guarantee from the manufacturer. You’re normally asked to register your appliance with the manufacturer to activate their free guarantee. Although you don’t have to do this, you may qualify for a longer guarantee (free of charge) if you do.
• Check what the extended warranty won’t cover. Extended warranties normally have exclusions – namely, things they won’t pay out for. Damage to particular parts, wear and tear, more than a certain number of claims and water damage may be excluded.
• Insurance-based or service plan? Check whether the warranty is insurance based or is a service plan. If it’s insurance-based it will have the words ‘underwritten by’ displayed on the paperwork. Why does this matter? If it’s insurance based, it means you can complain free of charge to the Financial Ombudsman Service if there’s a problem you can’t resolve with the warranty provider.

You may be able to claim a tax refund or tax relief if too much tax was taken from your pay, or you used your own money for travel or purchased things for your job but have not been reimbursed by your employer.

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You can apply directly to HM Revenue and Customs for a refund, via your Personal Tax Account. The service is free to use and if a refund is due, it will be paid in full.Ìý

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Further information on how to claim a tax refund can be found

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Further information on how to set up a Personal Tax Account can be found