Tuesday, June 17, 2008

The business of shedworking - part 2

Today Alan Young of 1st Addition Accountancy continues his daily look at the business side of shedworking in the UK. Here's his post on Running The Business:
"As I mentioned yesterday, there is some good news and some bad news for shedworkers. This is where the bad news kicks in. Recently introduced legislation now allows home workers to apportion many of the costs of running the home, on a pro rata basis to the business, based on the number of rooms occupied.

"In other words, if we have one room, totally dedicated to business, and four other rooms in the house, we can claim 1/5, or 20% of the costs of running the house, These costs include; rent/mortgage interest, council tax, property insurance, light and heat, water rates, cleaning, decorating and repairs (internal and external). Because our garden building is not officially classified as a part of the house, we are unable to claim a part of these general expenses for business purposes."
Tomorrow, the good news...
Alan also runs a useful blog which is well worth a browse.

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