On 13/03/2014 12:29, Huge wrote:
On 2014-03-13, Dave Liquorice wrote:
On Thu, 13 Mar 2014 03:43:43 +0000, Bill Wright wrote:

You want to think about personal accident insurance as well.

Sneaky feeling that is not the same as the Permenant Health Insurance
that I mentioned earlier. A decent Independant Financial Advisor
would know, in fact getting proper financial advice might be a Good
Idea anyway. How do mortgage companies take to some one switching
from wage slave to self employed?

Don't claim a portion of your domestic costs against tax. Dangerous!

A single small amount of "Use of home as Office" against tax will go
unnoticed. What you don't want to do is trying to put 5% or whatever
of the household bills against tax or dedicate a room as your office.
It can become subject to Business Rates and there could be a "change
of use" implications.

It used to be the case that the Revenue (now HMRC) didn't talk to the local
council ratings people so it was quite safe to claim "Use of home as office".
I did it for years.

Its still a routine deduction made by accountants for directors of Ltd
companies working from home (at least partially). So long as the space
used is not wholly and exclusively used for business, then business
rates / change of use ought not be an issue.

Disclaimer; I haven't been self-employed for over 20 years.



--
Cheers,

John.

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