Homeworking - Maximising the Tax Breaks

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A Tips & Advice Special Report about...

In a nutshell

In this Special Report, you'll see how to structure your homeworking arrangements in the most tax-efficient ways. It considers the effects of homeworking on income tax, National Insurance, capital gains tax and VAT.

In detail

This Special Report will help you take full advantage of the tax rules for homeworking. It examines the tax implications of homeworking for business owners, employers and their workers including:

• Special homeworking allowances
• Rules for business journeys starting or ending at home
• Flat rate deductions for sole traders and business partners
• Running a business from home
• Employer-provided living accommodation
• How the capital gains tax rules apply if you’ve worked from home
• Reclaiming VAT on homeworking expenses

Homeworking - Maximising the Tax Breaks provides you with the know-how to ensure that your claim meets HMRC’s standards and includes useful tips on how to fully benefit from all the tax breaks.

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We've created this Tips & Advice Special Report especially for... 

Anyone that wants to:

• Secure the most tax-efficient way to work at home

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You'll get the following free extras with this Tips & Advice Special Report... 

An online service with ready-to-use documents

• To immediately apply our advice and solutions in practice
• That you can easily adapt to suit your own requirements

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In this Tips & Advice Special Report you'll read about...

1. Running your business from home

1.1. What are the basic principles?

1.2. What‘s the basis of apportionment?

1.3. What costs can be claimed?

1.4. How does HMRC apply the homeworking rules?

1.5. What are the practical considerations?

1.6. What’s the VAT position?

2. Simplified deductions for the self-employed

2.1. Introduction

2.2. What are the flat-rate deductions?

2.3. How does the flat rate compare with the standard calculation?

2.4. What costs is the flat rate meant to cover?

3. Living at your business premises

3.1. Why is an adjustment to property costs required?

3.2. What are the flat-rate adjustments?

4. Employees and directors using their homes for work

4.1. Introduction

4.2. How does the wholly, exclusively and necessarily rule work?

4.3. How does the tax-free allowance household expenses work?

4.4. What is the tax and NI exemption for “accommodation expenses”?

4.5. Does the accommodation expenses rule apply to equipment?

4.6. What if business and private use varies?

4.7. What changes were made to CAs because of coronavirus?

5. Alternative tax relief for homeworking costs

5.1. Introduction

5.2. Is there a more tax-efficient alternative to claiming expenses?

5.3. What other points about the arrangement need to be considered?

6. Other homeworking tax issues

6.1. Introduction

6.2. What is CGT private residence relief?

6.3. Does business use of your home affect private residence relief (PRR)?

6.4. What’s the government’s policy on business rates and homeworking?

6.5. What are the business rates implications?

6.6. What is the CGT private residence relief and business rates interaction?

6.7. What are the record keeping requirements?

7. Creating a home office

7.1. Introduction

7.2. Unincorporated businesses

7.3. Companies

7.4. Companies - structural improvements to a director’s home

7.5. Companies and unincorporated businesses from 29 October 2018

8. Employer-provided living accommodation

8.1. Introduction

8.2. What is the amount of accommodation benefit?

8.3. What if there are separate business and living areas?

8.4. Temporary accommodation

9. Travel expenses

9.1. Introduction

9.2. When can travel expenses be claimed?

9.3. What about self-employed travel to a place of work?

9.4. How much can be claimed for motoring costs?

10. Appendices

10.1. Appendix 1 - HMRC’s use of home as office example calculations - for the self-employed (BIM47825)

10.2. Appendix 2 - Valuation Office Agency factsheet - council tax and business rates - working at or from home

10.3. Appendix 3 - Structures and buildings allowance

11. Documents

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