Self employment exps

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billy wiz

Joined: 10 Feb 2007
Posts: 50
Location: Anglesey

Posted: Tue Sep 04, 07 4:24 pm Post subject: Self employment exps
Hi I intend to work from home on a self employed basis, with regards using a office in the home I can claim part payment for heat, elect etc. What is a reasonable rate for these?

MarkS

Joined: 01 Aug 2006
Posts: 2626

Posted: Tue Sep 04, 07 4:50 pm Post subject:
yes you can. rules have changed over the years about the best way - rent a room or contribution to bills. I would have a look on accountingweb or even ccuk fo rthe current story. Or if you are going to use an accountant ask them.

Penny Outskirts

Joined: 18 Sep 2005
Posts: 23385
Location: Planet, not on the....

Posted: Tue Sep 04, 07 6:50 pm Post subject:
This may help answer some of your questions: Business Link - Working from home

RichardW

Joined: 24 Aug 2006
Posts: 8443
Location: Llyn Peninsular North Wales

Posted: Tue Sep 04, 07 8:12 pm Post subject:
The thing you have to be carefull of now is claiming that one room is used solely for work. If you do then when you sell your house you will be liable for CGT (capital gains tax) on that room / space. Justme should have checked that link first as that is what it tells you

wellington womble

Joined: 08 Nov 2004
Posts: 15051
Location: East Midlands

Posted: Tue Sep 04, 07 8:19 pm Post subject:
You can claim a proportion, though - so you claim 95 percent of the costs of running that room, and think of a legit use for the other five (which unless you live in loads of space, you will probably do anyway - occasionaly guest bedroom, kids study for homework, personal admin and net, etc etc etc)

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