Costs You Can Claim
We have found in practice that a deduction can be claimed for the element of mortgage interest or rent, insurance and utility costs that relates to the business area where that part is wholly and exclusively for business use. We have successfully put through hundreds of claims for this. This does not mean for instance that a part of your home should be set solely aside and used for no other purpose than that of the business.
We have found that HMRC are content to interpret this statute as being that part of your home that is being used for the business and only for business for that part at that time, not necessarily all of the time. This means that where part of your home is used for business for a part of the time, then any costs that can be attributed to business use for that period of time are tax deductible.
Do I Need An Accountant?
We are happy to say that the answer is no you do not need to use any Dunfermline Accountants to help you do this.
You can either put these claims through yourself on your own tax return or you can use regular Dunfermline accountants to help you. For more info contact us
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