Self-employed Business

Thursday October 2014

How can I easily calculate a total amount to claim for the self-employed business I run from my home, for example the total amount of usage for rent, gas, insurance, council tax, internet usage and broadband?

There is an easy way to calculate the deductible amount of your home expenses, you simply record how many hours you work at home each month and claim the appropriate flat rate:

– Working 25 to 50 hours in home allows a £10 claim for the month
– Working 51 to 100 hours in home allows a £18 claim for the month
– Working 101 or more hours in 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. We can help you with the calculation.

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