- Thread starter johnakay
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BrokenBiker
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What about what you pay the wife for administration
i don't bother paying her...
BrokenBiker
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i don't employ her at all lol she has her own business so we keep them totally separate
When you consider that income tax was brought in to assist in the financial support of the war against Napoleon! Still with us today having been subjected to further taxes like VAT.
I compile mine on an excel spreadsheet, throughout the year, add and subtract totals. Minus personal allowance should be what forms your tax bill.
Remember, expenses, purchased equipment any expense to do your occupation, make sure you claim it. Good luck.
Mrs Brooks not guilty? Now that's tax payers money well spent!!!!?????
I compile mine on an excel spreadsheet, throughout the year, add and subtract totals. Minus personal allowance should be what forms your tax bill.
Remember, expenses, purchased equipment any expense to do your occupation, make sure you claim it. Good luck.
Mrs Brooks not guilty? Now that's tax payers money well spent!!!!?????
BrokenBiker
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i felt like it was a never ending list the last time I did one. I worked out how much electricity it took to charge my power tool batteries, how much it cost to light the spare room being used as an office, how much to charge laptop, run printer, cost of filing cabinet and lever arch files etc. Got quite a bit at the end of it. Well, enough to make me smile anyway, until i broke my ladder and decided to upgrade to a triple extension instead of double
BrokenBiker
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its not my house, I did look into it to make sure I wouldn't get charged for anything. when I eventually buy my own house I will be looking for somewhere with a bit of land to build a decent sized workshop on so will use that as the office space from then on.
You are fine anyone can have a home office, it's how you use it that is the important thing - ie work associated people for instance are not supposed to visit it.
It's a home office after all and is recognised as such - not business premises.
What is important is when claiming for a home office there are strict caps on what you are allowed to claim - ie caps on utility bill %. These are quite low now days and all accounts will claim up to the max.
Brokenbiker - unless it's a business premises you can't claim for electricity used for your welding equipment
BrokenBiker
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I didn't claim for anything used for welding, just for charging the power tools, that I use on a regular basis to do my job
BrokenBiker
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sorry I explained it a bit badly, when I did mine I worked out the percentage of my utility bill that was used for the various charging and office use etc then submitted that. not sure if I reached the limit and just had that back or if I had the full amount I submitted, didn't really look into that as I got back a lot more than I was expecting anyway.
