Make sure you are claiming the correct deductible expenses for use of your home office.
The easiest way to calculate the deductible amount of your home expenses is as follows:
You simply record how many hours you work at home each month and claim the appropriate flat rate:
- Working 25 to 50 hours at home allows a £10 claim for the month
- Working 51 to 100 hours at home allows a £18 claim for the month
- Working 101 or more hours at home allows a £26 claim for the month
This rate covers the cost of power, telephone, internet access, but it doesn't cover council tax, insurance, rent or mortgage interest. Those other costs should be apportioned according to the space you use for your business in the property, and how many hours you use that space.
You can claim a proportion of the following household bills:
* Mortgage interest or rent
* Council tax
* Electricity/ Gas
* Water rates
* Telephone/ Broadband
* Repairs and maintenance
The number of rooms used for business must be used in this calculcation.
If you need any further help with this please contact Louise on 07835 164062.