Self Assesment and Mortgage Deposit

TB.Eight

hello all

im 22 years old and self employed. In April i will be filling in my third Self assessment. Last week i moved into my first home.

I am aware of how i can claim back certain costs with me working from home but can i also claim back a percentage from the deposit i put down?

i put 19,000 down on my mortgage. 25% of the cost of the house (bargain i know lol)

any help would be greatly appreciated! if you need any more info from me to provide an answer please ask.

ceeforcat

In short - no. If you, for example, use one seventh of the rooms for your busines, you can claim one seventh of the lighting and heating costs, rates, etc. Techicnally you could claim a similar proprtion of the mortgage interest. The other method is to claim a standard £10 or so per week as 'Use of Home' allowance -generally recognised by HMRC as legitimate.

Using the first method may cause problems elsewhere - home insurance, rates, CGT on selling business part of house etc. Be careful!

TB.Eight

yeah, the first method is the method i was aware of, i wasnt sure if it applied to a deposit though.

Thanks for your help