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If you’re self-employed and carry out some of your work from home you are entitled to include part of the running costs of your home in your accounts. There are two ways of calculating this.
Flat-rate method - If your sales are under the VAT threshold you’re eligible to use the simplified method. The amount that you can claim varies with the number of hours per month you work at home, as follows: 25-50 hours working from home per month £10 per month; 51-100 hours working from home per month £18 per month; 101 hours or more working from home per month £26 per month.
Costs Method - The other method is to claim for part of the actual running costs. Probably the best method is to work out how many rooms you have in your home, identify how many of those rooms you use for your work, then calculate how much time you use these rooms for business.
Some of the expenses you can include in your accounts.
Self-Employed pages ► Self Employed sole traders ■ Registration and National Insurance ■
Registered office: 61 Friar Gate, Derby, Derbyshire, DE1 1DJ T: 01332 202660
Adrian Mooy & Co is the trading name of Adrian Mooy & Co Ltd. Registered in England No. 05770414
Registered as auditors in the United Kingdom by the Association of Chartered Certified Accountants auditregister.org.uk 8011438
61 Friar Gate Derby DE1 1DJ