Am I able to claim part of my mortgage as a business expense?

**NickWallace87** · 13 March 2012, 13:57

From previous experience this can be done but I think you will need to an agreement in place between yourself and your limited company. Also the income would then need declaring on you personal tax return.

**northernladuk** · 13 March 2012, 14:16

Originally posted by Metro View Post

Please can somebody help me with a query. I am self employed and my friends tell me that I can claim a proportion of my rent as a business expense. Is this true and at what percentage?
If this is true, will this apply to my mortgage? Any help would be greatly appreciated.

Firstly, to understand how to deal with this you have to understand your situation. Something you appear to be struggling with. If you cannot grasp the finer points of difference between Rent and Mortgage anything we say to you next will just be gobbledegook.

Have a think about what you are asking and change either your title or post text so they are the same. The answers are completely different.

**MrRobin** · 13 March 2012, 16:30

I am not an accountant but I understand that you can claim for a portion of your home expenses if you genuinely use it for income generating work (i.e. you work from home a lot... doing 10 minutes filing a week doesn't count) and there is a dedicated area for you to work (sitting on the sofa with laptop doesn't count)

You can claim for mortgage INTEREST, but you can also claim for utility bills and council tax too.

You should divide your total costs by the number of rooms you have in the house - i.e. you have 1 room which is your study, and you have 5 other rooms then you need to divide by 6 to get the portion which you can claim in expenses.

**Metro** · 13 March 2012, 16:33

Help required

Ok. I am currently renting and am looking into applying for a mortgage. That is why I am asking about both rent and Mortgage. If rent can qualify as an allowable business expense is it therefore possible for a mortgage to be treated the same?

Originally posted by northernladuk View Post

Firstly, to understand how to deal with this you have to understand your situation. Something you appear to be struggling with. If you cannot grasp the finer points of difference between Rent and Mortgage anything we say to you next will just be gobbledegook.

Have a think about what you are asking and change either your title or post text so they are the same. The answers are completely different.

**northernladuk** · 13 March 2012, 16:36

Originally posted by MrRobin View Post

I am not an accountant but I understand that you can claim for a portion of your home expenses if you genuinely use it for income generating work (i.e. you work from home a lot... doing 10 minutes filing a week doesn't count) and there is a dedicated area for you to work (sitting on the sofa with laptop doesn't count)

You can claim for mortgage INTEREST, but you can also claim for utility bills and council tax too.

You should divide your total costs by the number of rooms you have in the house - i.e. you have 1 room which is your study, and you have 5 other rooms then you need to divide by 6 to get the portion which you can claim in expenses.

Or you can just claim £3 a day as recommended. Speak to your accountant about your individual situation...

JFYI the poster mentioned RENT in the main body of his post.

**MrRobin** · 13 March 2012, 16:42

Originally posted by northernladuk View Post

Or you can just claim £3 a WEEK as recommended. Speak to your accountant about your individual situation...

I'm sure you know this and that's just a typo

**oscarose** · 13 March 2012, 16:45

Originally posted by Metro View Post

Please can somebody help me with a query. I am self employed and my friends tell me that I can claim a proportion of my rent as a business expense. Is this true and at what percentage?
If this is true, will this apply to my mortgage? Any help would be greatly appreciated.

Just out of interest, is the 'tumbleweed' significant at all?

**northernladuk** · 13 March 2012, 16:47

Originally posted by MrRobin View Post

I'm sure you know this and that's just a typo

You are quite right... it will be £4 a week soon

http://forums.contractoruk.com/accou...allowance.html

**northernladuk** · 13 March 2012, 16:49

Originally posted by oscarose View Post

Just out of interest, is the 'tumbleweed' significant at all?

His title and question don't even match so I wouldn't begin to worry why he is using certain icons.

Am I able to claim part of my mortgage as a business expense?