Work at home: what home costs can I charge against tax?

Townley&Co

pullena wrote: »

Hi,

New to this thing although was really good to find the thread on Google. Just started a business as a limited company, using home as a base. Bit disappointed that I cannot charge part of my mortgage interest though. Anyone know what I can do in terms of allowable expenses?

AP

Hi Pullena

You can charge a percentage of your "home use" as an allowable expense depending on what you trade as. Or in some cases you can charge a "flat fee" as an allowable expense to cover all aspects of your house, bills etc.

If you need more info just send me a PM.

Regards

Seaxwyn

Hello again! I am doing my tax return once again. For the last two years I have used the formula in the link Bean Counter posted in Note 2 above to calculate what I can claim for my home costs. Now that link no longer works. Does anyone know if the situation has changed regarding what self-employed people working at home can claim?

Bean_Counter

Seaxwyn wrote: »

Now that link no longer works.

The page is still there. Here is another link to it, albeit it does look the same as the old link.

If that does not work type bim47825 into the search box on HMRC website and you should find it.

The only thing that I think has changed is the £2 per week in example 1 is now £3 per week - whey hey!

mulready

I have a job, but I also take one day a week and random days in lieu to be self employed (not VAT registered). I do a lot of traveling to antique fairs and selling / shopping trips to other dealers on these days off and weekends. In fact, my time out of work is dedicated to my own business.
In 2010 / 11 I bought a motorbike with proceeds from my business. The idea being that I could quickly get around London in the little time I have to see restorers, dealers, and go to auction houses etc etc.

My question is, can I charge the bike (£2000) to my travel expenses? As well as charge 25p / mile for usage? As it was purchased to facilitate business, I can surely claim for it and the cost of insurance??

Please advise!

BoGoF

No.....and you would be better start a new thread rather than resurrect one of no relevance to your question.

jjlandlord

Iirc, I think that the space used for business purpose could become liable for business rate instead of council tax.