Running a business:
Working from home
There are various implications to working from home, including whether you need:
- permission from your mortgage provider or landlord
- planning permission
- to pay business rates
- extra insurance cover
There are also tax implications, including whether you:
- can claim any of your household expenses as cost of your business
- can reclaim VAT on items bought for the business;
- can claim for a proportion of your mortgage interest as a cost of the business; and
- need to pay capital gains tax when you come to sell your home.
The tax treatment depends on how you use your home, for example whether you have a separate business telephone line or whether a room is exclusively used for your business. For further advice, speak to us.
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