Originally posted by Pickle2
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Reply to: Use of office at home and business rates
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Previously on "Use of office at home and business rates"
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Originally posted by Pickle2 View Posthttp://www.hmrc.gov.uk/manuals/eimanual/EIM32700CT.htm
See section "Home: working from home and household expenses"
Its pretty clear - rent etc is not allowed for ltd co employees/directors, but is for self employed.
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http://www.hmrc.gov.uk/manuals/eimanual/EIM32700CT.htm
See section "Home: working from home and household expenses"
Its pretty clear - rent etc is not allowed for ltd co employees/directors, but is for self employed.
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Originally posted by slackbloke View PostIndeed, it looks like the original URL has the wrong links in it now.
This is the BIM with examples :
http://www.hmrc.gov.uk/manuals/bimmanual/BIM47825.htm
http://www.hmrc.gov.uk/manuals/bimmanual/BIM47800.htm
BIM47800 - Specific deductions: use of home: contents
This chapter explains what expenses are allowable when someone who is self-employed uses part of their home for business purposes. It does not apply to the use of home by an employee or director - for this see EIM32760 onwards.
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Originally posted by Moscow Mule View PostMentions MIRAS - wasn't that abolished some time ago?
This is the BIM with examples :
http://www.hmrc.gov.uk/manuals/bimmanual/BIM47825.htm
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Originally posted by slackbloke View Post
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Originally posted by Pickle2 View PostMy accountant just told me last night I can no longer claim a proportion of my rent (15% for the spare bedroom that is the office) as an expense.
This also goes for council tax, mortgage intrest etc etc.
See:
http://www.hmrc.gov.uk/manuals/eimanual/EIM32815.htm
Anyone else been made aware of this recently? I have an expensive flat, so 15% is like 4k p/a. Im gutted.
Someone say it aint so!!
Ref : http://news.bbc.co.uk/1/hi/programme...ch/7459639.stm
http://www.hmrc.gov.uk/manuals/bimmanual/BIM45745.htm
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Originally posted by Pickle2 View Post2 quid a week it is.
Nick, grow up.
http://www.accountingweb.co.uk/cgi-b...%20%25B%20%25Y
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Originally posted by NickFitz View Post£3/week from April 6 2008 - but you must satisfy these criteria (make sure you follow the links, particularly the examples of how the regulations should be interpreted and applied).
Is it really worth it?
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Originally posted by contractor79 View Postyou can claim £2/week for use of home as office That's what I do.
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Originally posted by Pickle2 View PostMy accountant just told me last night I can no longer claim a proportion of my rent (15% for the spare bedroom that is the office) as an expense.
This also goes for council tax, mortgage intrest etc etc.
See:
http://www.hmrc.gov.uk/manuals/eimanual/EIM32815.htm
Anyone else been made aware of this recently? I have an expensive flat, so 15% is like 4k p/a. Im gutted.
Someone say it aint so!!
Sorry if you expected the rest of us to subsidise your "expensive" flat forever - I suppose you could move somewhere cheaper, or maybe pay your household expenses out of your own pocket, rather than ours?
I very much doubt that whatever use you made of the spare bedroom for "business" purposes would actually justify your £4,000 p/a subsidy from the taxpayer (ten minutes on a spreadsheet once a week, by any chance?), which is probably why they've put a stop to such things. Find another goose if you want free golden eggs; and count yourself lucky they don't want to backdate the change.
ADDENDUM: this is where they tell you why you can no longer claim relief. If you can prove that you only incur the cost of renting your spare bedroom because you need it as an office - that is, you can demonstrate that you rented the spare bedroom wholly and exclusively to support the operation of your business, and would otherwise have no objection to the landlord filling it up with homeless people - then you should still have a case.Last edited by NickFitz; 16 July 2008, 03:04.
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you can claim £2/week for use of home as office That's what I do.
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