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nattynetty
18-06-2008, 01:10 PM
It appears the tax-man is becoming more lenient about what you can claim as 'reasonable' expenses for working from home. This link here http://news.bbc.co.uk/1/hi/programmes/working_lunch/7459639.stm (http://news.bbc.co.uk/1/hi/programmes/working_lunch/7459639.stm) explains it really well and it appears you can now claim a percentage of your mortgage interest and council tax - typically just after I stopped working from home but it could help some of you to reduce your tax bills :)

charlotte
18-06-2008, 04:27 PM
That is great, thank you for sharing it with us.

Chris W
18-06-2008, 06:08 PM
Thanks for pointing that out, it is worth knowing about.

swirlyarts
19-06-2008, 09:40 AM
Ooh - I'll have a look and forward it on to Matt who can chat to the accountant about it!

candles by lisa
19-06-2008, 09:46 AM
Excellent off to have a little nosey. Thanks Natty.

Lisa

:D

cloudhopping
19-06-2008, 07:45 PM
A very useful link! Thanks for posting!

lauraj
19-06-2008, 08:07 PM
how odd, i thought it had been like that for years. Ive been putting c/tax against the biz for 4 years now as directed by accountant. And heating/leccy etc bills.

MrSwirl
20-06-2008, 09:29 PM
how odd, i thought it had been like that for years. Ive been putting c/tax against the biz for 4 years now as directed by accountant. And heating/leccy etc bills.

It's been allowed, you're right, but they have made it clearer about how you can claim for different things. Also, there has always been a precedent that if you claim too much, then HMRC could argue that your home is actually a "business premises". If that's the case then you would have to pay CGT on the increase in value of the property if you sold up, plus business rates.

The new guidance makes it clearer about what you need to do to reduce the chances of HMRC ruling that way.

ickle pickle
21-06-2008, 10:31 AM
Thanks for claryfying that Mr Swirl :) I knew about this but didn't think it was worth it beause of the business rates charges. This is great news, will have to investigate some more. Thanks for letting us know ;)

CreativeFabrics
24-08-2008, 11:51 AM
Thanks for sharing that information! I'll have my hubby take a good look at it for me :D