Claiming ISP costs for eBay trading?

LongDongDave

Don't know if this is more appropriate for the tax board, but it is eBay related. I've been trading on eBay since last Oct., and just getting my head around the accounts for IR. Anyone know if i'd be able to claim the cost of the ISP? How much are you allowed to claim for using your room at home as an office?
Thanks

richto

I claim all my broadband costs. After all if you use something for at least 95% business use then you can fully expense it without worrying about the benefit in kind. As far as im concerned 95% of my traffic is business related

Charging your company rent for an office might a) leave you liable to capital gains tax on that portion of your property, and b) liable to business rates. so be careful how you deal with those type of expenses. Get advice.

LongDongDave

richto wrote:

I claim all my broadband costs. After all if you use something for at least 95% business use then you can fully expense it without worrying about the benefit in kind. As far as im concerned 95% of my traffic is business related

Charging your company rent for an office might a) leave you liable to capital gains tax on that portion of your property, and b) liable to business rates. so be careful how you deal with those type of expenses. Get advice.

Thanks for the reply. Just incase you, or someone else, might know the answer...do IR accept credit card statements as evidence of expenses? I use AOL and have never had an invoice, but their charges appear on my CC statement.

richto

Ahh an Army Of Lamers member. IR would normally want an invoice. You should be able to get them online if you dont get sent them.