It’s January, so the heating’s cranked up full blast and you’re having to work with the lights on. Most contractors and freelancers are aware that they can deduct expenses for running a home office from the profits of their business, but what exactly are allowable costs? This blog gives a quick rundown of the main things to consider and how to work out the numbers ahead of filling in your self-assessment return.
Exactly what you can claim depends on your business, your bills and how much and how often you work from home. We’d always recommend sitting down with a qualified accountant to help you crunch these numbers. But here’s an idea of some of the expenses that you might be incurring in the course of running a home office.