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Freelance News: Tax relief for home workers

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tax1 Freelance News: Tax relief for home workersSmall business owners working from home should make sure they are claiming tax relief, an accounting firm says. Target Chartered Accountants says business owners who work from home can claim several tax benefits, including mortgage interest.

“Business owners who use their home for business purposes can claim a proportion of the costs, even if it is only for one room of the house for part of the time,” Target’s Midlands-based head of corporate and business tax Andrew Wilson says.

“HMRC has recently confirmed that businesses can claim for mortgage interest and for people who do have a large mortgage the tax relief can be significant.”

Other costs eligible for tax relief include rent, council tax, home insurance and energy bills.

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  • Helen

    I have been working from home for a few months now but didn’t realise you could claim tax benefits for doing so. Great news.

  • Helen

    I have been working from home for a few months now but didn’t realise you could claim tax benefits for doing so. Great news.

  • Neil Groves

    Good stuff. A little extra paperwork, but very much worth it!

  • Neil Groves

    Good stuff. A little extra paperwork, but very much worth it!

  • http://www.stainlessvision.com/ Tom H

    Is there anywhere official that documents this? Because this page from the HMRC website begs to differ:

    http://www.hmrc.gov.uk/incometax/relief-household.htm

    “You won’t be able to get relief on domestic expenses that you’re paying anyway – like your mortgage or council tax”

  • http://www.stainlessvision.com Tom H

    Is there anywhere official that documents this? Because this page from the HMRC website begs to differ:

    http://www.hmrc.gov.uk/incometax/relief-household.htm

    “You won’t be able to get relief on domestic expenses that you’re paying anyway – like your mortgage or council tax”

  • http://www.dynamiclifecreations.com/ Daryl Close

    Tom H,

    I’ve spoken with HRMC and you have to make a business case if claiming mortgage/telephone etc. You might say that the 2nd room of your house was only for ‘business purposes’ but ensure the claim is not material ie <10% of total cost.

  • http://www.dynamiclifecreations.com Daryl Close

    Tom H,

    I’ve spoken with HRMC and you have to make a business case if claiming mortgage/telephone etc. You might say that the 2nd room of your house was only for ‘business purposes’ but ensure the claim is not material ie <10% of total cost.

  • L’interprete

    Hello everyone

    I just started working part-time from home as a freelance translator and get my money thru paypal. I have always been an employee and still am, so i have no idea what to do re tax etc… I am not running a business as such, more making 20 to 30 pounds a week, so what applies to me, i found HMRC not realy digest for new people !! thanks for your help.

  • L’interprete

    Hello everyone

    I just started working part-time from home as a freelance translator and get my money thru paypal. I have always been an employee and still am, so i have no idea what to do re tax etc… I am not running a business as such, more making 20 to 30 pounds a week, so what applies to me, i found HMRC not realy digest for new people !! thanks for your help.

  • http://www.money-and-finance.com/ Money & Finance

    The range of the surprised ones is added. I also didn’t know about it. I’m for sure going to take the advantage of this tax relief. Thanks a lot!!!

  • http://www.money-and-finance.com/ Money & Finance

    The range of the surprised ones is added. I also didn’t know about it. I’m for sure going to take the advantage of this tax relief. Thanks a lot!!!