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12 Apr 09

Specific deductions: use of home: examples

If there is only minor use, for example writing up the business records at home, you may accept a reasonable estimate without detailed enquiry.

The following examples are a guide only and intended to demonstrate the principles to be applied. The examples are not intended to be prescriptive; each case will be dependant on the facts.

www.hmrc.gov.uk/...BIM47825.htm - Preview

self-employed hmrc

05 Feb 09

Self-employed can set mortgage costs against tax, says HMRC - Business News, Business - The Independent

HM Revenue & Customs has started allowing self-employed workers to offset their mortgage interest and council tax against their annual income tax bill; an expense that accountants have historically believed to be off-limits.

www.independent.co.uk/...inst-tax-says-hmrc-856994.html - Preview

tax hmrc self-employed freelance tax return

HM Revenue & Customs has started allowing self-employed workers to offset their mortgage interest and council tax against their annual income tax bill; an expense that accountants have historically believed to be off-limits.
Ms Beech said the new guidance by HMRC had also usefully clarified the amounts that people can claim as expenses – not just for mortgage interest, but for other expenses such as heating and electricity. "These examples, which appear on the Revenue's website, are the ones which the inspectors use, so they're very useful," she added.