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Author Topic: Tax - accountants, deductible expenses, general information  (Read 47361 times)

Tina Sparx

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Re: Tax - accountants, deductible expenses, general information
« Reply #405 on: 09 May 2021, 08:20:12 am »
Here is a scenario -
If I was to rent a flat purely to work from - (not live there) could I put that rent and council tax as an expense?
I see it the same as if I was renting a lock up shop?
It costs a lot to look this cheap.

Mirror

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Re: Tax - accountants, deductible expenses, general information
« Reply #406 on: 09 May 2021, 08:38:20 am »
Here is a scenario -
If I was to rent a flat purely to work from - (not live there) could I put that rent and council tax as an expense?
I see it the same as if I was renting a lock up shop?

Yes as ever always check but accommodation is an allowable expense, even if you live there (accountants usually apportion part of the bills according to the proportion used by your business activities), plus all associated bills. Buying things for that flat.

Basically if an expense in the course of your work ie to work = expense to reduce tax liability.

Tina Sparx

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Re: Tax - accountants, deductible expenses, general information
« Reply #407 on: 09 May 2021, 08:49:34 am »

Basically if an expense in the course of your work ie to work = expense to reduce tax liability.

Thank you
It costs a lot to look this cheap.

SamLilly

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Re: Tax - accountants, deductible expenses, general information
« Reply #408 on: 22 August 2021, 06:03:05 am »
Hi All.

Thank you for so much information. I've spent a while reading through all this. Those who offer incalls and out calls (though I think this is an obvious and I'm over thinking it) can you record mileage to the place you are working from and to out calls as well?

I've just set up my "new account" and ordered my tax relief book as well.

I plan to use my secondary for all the purchases etc, deposits ideally I want to set up a savings account to keep my pot for class 2, 4 & tax (aim for higher just incase) and then transfer a weekly or monthly amount does this sound rational?

Mirror

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Re: Tax - accountants, deductible expenses, general information
« Reply #409 on: 22 August 2021, 06:40:55 am »
Hi All.

Thank you for so much information. I've spent a while reading through all this. Those who offer incalls and out calls (though I think this is an obvious and I'm over thinking it) can you record mileage to the place you are working from and to out calls as well?

I've just set up my "new account" and ordered my tax relief book as well.

I plan to use my secondary for all the purchases etc, deposits ideally I want to set up a savings account to keep my pot for class 2, 4 & tax (aim for higher just incase) and then transfer a weekly or monthly amount does this sound rational?

Only outcalls is the answer to this, travel to a fixed place of work is not (as I understand it) classed as an expense.

SamLilly

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Re: Tax - accountants, deductible expenses, general information
« Reply #410 on: 22 August 2021, 11:50:04 am »
Perfect but in theory if you do both you can claim an incall call expense and outcall fuel. Mind is boggled after a shocking nights sleep. In good news I've already started planning how much I have to save for the tax man!

Mirror

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Re: Tax - accountants, deductible expenses, general information
« Reply #411 on: 22 August 2021, 06:40:04 pm »
Perfect but in theory if you do both you can claim an incall call expense and outcall fuel. Mind is boggled after a shocking nights sleep. In good news I've already started planning how much I have to save for the tax man!

Rent, heat, light, repairs, furnishings, bedding, utilities.

SamLilly

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Re: Tax - accountants, deductible expenses, general information
« Reply #412 on: 22 August 2021, 07:15:39 pm »
Rent, heat, light, repairs, furnishings, bedding, utilities.

New watch for time keeping, bedding, decor, big clock in bedroom.

Yep already doing the maths.

Umrao

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Re: Tax - accountants, deductible expenses, general information
« Reply #413 on: 14 October 2021, 08:00:53 pm »
Hello Ladies,

I am looking to work from where I live which is my home. I spoke to an accountant just as a general enquiry and she mentioned having to inform the council. Is this correct because it confused me. Any one else working from where they live and told to do the same?

I am on my own no partner, pets or children.

Thank you

Lady Frog

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Re: Tax - accountants, deductible expenses, general information
« Reply #414 on: 14 October 2021, 10:50:29 pm »
If you are a council housing tenant and therefore the council is your landlord, yes you do need their permission, and no they will not give it to you - they will most likely evict you I would imagine.

Working from home (as many office based employees did during lockdowns) is practically and legally very different from running your own business from home. The former is usually allowed and you don't need your landlord's permission. The latter (running a business from home) is almost always forbidden by your tenancy agreement and doing so will result in an injunction/eviction.

The Small Business, Enterprise and Employment Act 2015 introduced the option of having a 'home business tenancy', basically a different type of tenancy agreement to an assured short hold tenancy, which permits tenants to run a business from home with the business type specified and agreed in the contract.

I don't know anyone who has ever had or even considered one of these but trust me if you asked for one for prostituting from home the best response you could hope for is the landlord laughing in your face.

Bottom line is, get a different accountant.
A woman, especially, if she have the misfortune of knowing anything, should conceal it as well as she can. - Jane Austen

Umrao

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Re: Tax - accountants, deductible expenses, general information
« Reply #415 on: 14 October 2021, 11:21:42 pm »
If you are a council housing tenant and therefore the council is your landlord, yes you do need their permission, and no they will not give it to you - they will most likely evict you I would imagine.

Working from home (as many office based employees did during lockdowns) is practically and legally very different from running your own business from home. The former is usually allowed and you don't need your landlord's permission. The latter (running a business from home) is almost always forbidden by your tenancy agreement and doing so will result in an injunction/eviction.

The Small Business, Enterprise and Employment Act 2015 introduced the option of having a 'home business tenancy', basically a different type of tenancy agreement to an assured short hold tenancy, which permits tenants to run a business from home with the business type specified and agreed in the contract.

I don't know anyone who has ever had or even considered one of these but trust me if you asked for one for prostituting from home the best response you could hope for is the landlord laughing in your face.

Bottom line is, get a different accountant.

Thank you for your reply Lady Frog.

I have no tenancy or mortgage situation as it is a family owned property so do not understand why she mentioned the council.


Lady Frog

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Re: Tax - accountants, deductible expenses, general information
« Reply #416 on: 14 October 2021, 11:30:49 pm »
Oh I see. In that case I'm assuming she was on about business rates? Most of the time you do not need to pay business rates for working from home, but there are some exceptions. One of them is 'you sell goods or services to people who visit your property' which obviously would cover sex work.

Ridiculous suggestion though, obviously sex workers don't register with the council with this, not because we don't want to pay our way but because society often doesn't accept our work and it would cause us many problems.

Your accountant may be technically right but still a completely idiotic suggestion imo.
A woman, especially, if she have the misfortune of knowing anything, should conceal it as well as she can. - Jane Austen

Umrao

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Re: Tax - accountants, deductible expenses, general information
« Reply #417 on: 14 October 2021, 11:43:28 pm »
Oh I see. In that case I'm assuming she was on about business rates? Most of the time you do not need to pay business rates for working from home, but there are some exceptions. One of them is 'you sell goods or services to people who visit your property' which obviously would cover sex work.

Ridiculous suggestion though, obviously sex workers don't register with the council with this, not because we don't want to pay our way but because society often doesn't accept our work and it would cause us many problems.

Your accountant may be technically right but still a completely idiotic suggestion imo.

Thank you Lady Frog, my thoughts entirely in agreement for ladies not doing so.

My search for another accountant will continue.

Lady Frog

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Re: Tax - accountants, deductible expenses, general information
« Reply #418 on: 14 October 2021, 11:47:36 pm »
Best of luck  :)
A woman, especially, if she have the misfortune of knowing anything, should conceal it as well as she can. - Jane Austen

Umrao

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Re: Tax - accountants, deductible expenses, general information
« Reply #419 on: 15 October 2021, 12:21:16 am »
Best of luck  :)

Thank you so much and may Lady Luck always cross your path too  :)