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Anyone runs LTD company from home?

Mishomeister · 2024-06-19 12:27:33

Based on my conversation with HMRC if I deduct the allowed amount from my business for allowable expenses for running business from home ( I have 4 rooms use 1 exclusively for business so 25% of my council tax, utilities etc.) and then transfer money to my personal bank account to pay for this costs I will need to declare…

Comments

xnoxxnox Posts: 99 Forumite

30 September 2024 at 2:12AM

£26 use of home expenses, monthly. Pay that as a business expense, and also not subject to personal income tax or NIC/BIK.

You cannot blanket claim dual purpose utilities.

If there is business broadband, in business name; business mobile phone, in business name; business SIM card, in business name. That can be allowed to, depending on the nature of your business. But not personal / residential bills and contracts.

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