Originally posted by northernladuk
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Repairs to home office through Ltd Co not allowed
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Former member of IPSE.
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Many a mickle makes a muckle.
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Originally posted by wattaj View PostTrue in general terms, but it really depends of the "rental agreement" *winks* that is in place at the time.'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
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Originally posted by MrBen View PostHi, as everyone else I work from home where I have a substantial home office setup over the past 10 years or so.
The office is setup for me to develop and work on client solutions (sometimes on an outside IR35 and sometimes on an inside IR35 basis). The office is upstairs. Unfortunately, we recently had bad weather and rain water came into the office damaging the floor, walls cracked, ceiling cracked, skirting boards all warped, walls discoloured, paint peeling etc fortunately nowhere near the power sockets. A local roofing company identified the problem in the roof above the office and sent a quote for repair.
I just thought this the Ltd company could pay for the repairs as it only affects the office but my accountant is now saying I have to cover the full costs of the repair personally. Has anyone else been in a similar situation? Is that right? Any advice would be appreciated. Thank you.
Just make sure that you treat it as a BIK and pay all the taxes due as such.Comment
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There will be Capital Gains implications if you claim your home office expenses as a percentage or as a fraction of your home running costs too.
Your repairs will also not fall within the "wholly and exclusively" rule, since amongst other things, the roof is the roof of the house and can't be subdivided into just the roof of your office.
KISS.I was an IPSE Consultative Council Member, until the BoD abolished it. I am not an IPSE Member, since they have no longer have any relevance to me, as an IT Contractor. Read my lips...I recommend QDOS for ALL your Insurance requirements (Contact me for a referral code).Comment
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Originally posted by Old Greg View PostYou are correct. Your accountant and other posters here are incorrect. Your company can pay for the repairs.
Just make sure that you treat it as a BIK and pay all the taxes due as such.
Christ, the lengths that people will go to to save a bob or two.
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Former member of IPSE.
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Many a mickle makes a muckle.
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Originally posted by wattaj View PostOr, the OP could stop pissing about for a few quid and repair their house without the additional hassles.
Christ, the lengths that people will go to to save a bob or two.
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Originally posted by ladymuck View PostMaybe they're from Yorkshire?Comment
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