Tax allowance working from home

[bet-bunny]

I have a study at home which I use for my self-employed business and I work approx. 15 hours a week in it. What would be deemed a reasonable expense amount that I could claim for?

[Eagle]

Do you mean home premises used for business purposes? If it's your domicile, not much. Around 10% I think.

[Williams lester]

Have a read here http://www.hmrc.gov.uk/manuals/bimmanual/BIM47800.htm

[bet-bunny]

Thanks. I was trying to find something about it on HMRC website last night but obviously wasn't looking in the right place.

[elainec100@cheapaccounting]

read here:

http://www.franklyaccounts.co.uk/fiveuseofhomesole.php

[bet-bunny]

Thanks, that was a bit easier to understand. :)

My field was commercial underwriting, but book-keeping and self assessment is a new and different ball game for me and a bit of a minefield!

[elainec100@cheapaccounting]

email us if you want a copy of this free guide:

Accounts and Tax Uncovered - Free Guide

http://www.cheapaccounting.co.uk/nh1.php

[yorkshirejames]

read here:

http://www.franklyaccounts.co.uk/fiveuseofhomesole.php

That is a great article Elaine. Could I make one suggestion for an extra thing to add, which would be (after you've talked about CGT) to mention that if a room is used exclusively for business then business rates may be payable, hence the need to ensure that the room is used for other things also.

[elainec100@cheapaccounting]

Thanks for the feedback

Business rates may apply if you work from home - it is a separate issue really and each council has a bit on their web site about it.

[yorkshirejames]

Thanks for the feedback

Business rates may apply if you work from home - it is a separate issue really and each council has a bit on their web site about it.

Sure, but perhaps worth a mention so people can be aware of the need to research further?