Self Employed Office Expenses

JohnBoy59_2

Some advise please:

I am starting self employment in January and am trying to estimate my tax liability.

I will be working from home 3 days each week. I have set up a desk in our spare bedroom from where I will mainly work from.

What can I realistically claim as expenses for using my home as an office?

Also can I claim anything against mortgage interest

monkey_writer

As I understand it you can work out the % of the property which is used solely for business, and claim that % of rent and bills. I would assume that includes mortgage, but I'd confirm that with someone else!

JohnBoy59_2

So am I not able to claim anything given that it the room won't be solely used for work?

pleasedelete

£4 a week standard hmrc allowance.

No mortgage interest (and that may in theory attract business rates and insurance which is to be avoided)

bartnwood

Hello JohnBoy59,

Do not forget to register your self employment with HMRC as you will need to complete a self assessment tax return in future if you do not do so already.