Use of home as office

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teakay25
teakay25 Registered Posts: 43 Regular contributor ⭐
in General accounting discussion
Hi all,

If the use of home as office is calculated by the floor space and then the office room proportion multiplied by the household bills, should this figure then re calculated to take into account the length of time spent in the office room each day or would this be too much information for the use of home as office figure on a tax return?

Cheers

Teakay

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  • burg
    burg Registered, Moderator Posts: 1,441 mod
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    It needs some kind of apportionment so as to avoid the issues around it being permanently for business and the possibility of CGT on that portion and may be even business rates.

    As with regards to it fitting on the tax return. If you mean providing your workings in the 'additional information' box then I don't normally put anything. I simply put through the allowance as calculated in the accounts which in turn makes it's way into the appropriate box on the tax return. I keep the workings as part of my working papers and ready to be available should the need arise.
    Regards,

    Burg
  • teakay25
    teakay25 Registered Posts: 43 Regular contributor ⭐
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    Thank you

    That's great Ian, thank you
  • ereid
    ereid Registered Posts: 28 Regular contributor ⭐
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    Use of home as Office

    Hi

    Just to help further the HMRC give fairly straight forward advice for this one.

    http://www.hmrc.gov.uk/manuals/bimmanual/bim47825.htm

    Hope this helps, as with HMRC websites, it takes some finding for useful bits!

    Best wishes

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