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  • #987696
    jeffreyj90
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    • Total posts: 10
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    Hi everyone,

    I am a self employed carpenter set up with a company. My company address is set up as the address where I live and pay rent. Can I claim some of this rent as a deduction as I do some work from home such as quotes, invoicing etc.?

    If so how is this normally worked/ how much can I claim?

    Thanks

    #1163861
    affgar
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    • Total posts: 123
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    Yes you can claim some of the rent utilities if you have a dedicated office or required business work space.
    You need to work out a percentage of personal vs business.

    Need to talk to an accountant to evaluate your own circumstances.

    #1163862
    Grant Mason
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    • Total posts: 26
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    affgar, post: 189727 wrote:
    Yes you can claim some of the rent utilities if you have a dedicated office or required business work space.
    You need to work out a percentage of personal vs business.

    Need to talk to an accountant to evaluate your own circumstances.

    If you do this then there may be capital gains implications on your home. Ask accountant advice about this.

    Regards,

    Grant Mason
    Gordon Executive Centre

    #1163863
    affgar
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    @ Grant … If they are paying rent, there will be no capital gains to take into the equation. Though you do make a good point for others.

    If you choose to treat part of your purchased PPR home as a business expense it can move that portion into the capital gains territory. As stated, all tax matters should be talked about with an accountant. :)

    Thanks for the response to clarify that.

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