Small Businesses are entitled to claim back expenses incurred such as heat, water and mortgage interest as result of using their home as an office. However, what exactly do HMRC deem as “reasonable” or “allowable”?
Adopting the simplified flat rate deduction basis for home office costs can make things a lot easier and tax efficient for businesses.
|2014 – 2015 rates|
|£10 a month for 25 or more hours.|
|£18 a month for 51 or more hours.|
|£26 a month for 101 or more hours.|
To find out more about simplifying your tax affairs and how to reduce your tax bill then please feel free to get in touch. You can find our contact details here.