Do you sometimes work from home?
Want to reduce your tax bill? Here’s how... We have noticed that the Inland Revenue have adopted a different approach recently to business owners claiming for the use of their home as an office. This means that you might now be eligible to receive tax relief on the costs associated with running a home office.
Step one Calculate your monthly running costs relating directly to your property, e.g. mortgage (interest element only), gas, electricity, water, council tax, home insurance, etc.
Step two Work out the number of habitable rooms in your home (habitable rooms exclude bathrooms, kitchens, utility rooms).
Step three Calculate how many days per month you work from home.
Step four Call Wow to find out how much money you can save! |