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Author Topic: Tax returns  (Read 1204 times)

sashaX

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Tax returns
« on: 09 August 2011, 12:16:42 am »
Hi all, I work from home (doing incalls), this is my first year as an escort, can I put my rent down as one of my expenses as mainly work from home?
Thanks, Sasha
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xw5

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Re: Tax returns
« Reply #1 on: 09 August 2011, 12:24:28 am »
(Not an accountant!)

The basic idea is that you could claim for the percentage wholly related to your work (so if you had one 'work' bedroom and one 'you' bedroom, you could claim the fair share of the costs for the work room) but there are certainly implications around this for home owners (e.g. when you come to sell the place) and I can't remember if there's a similar downside for renters.
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sashaX

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Re: Tax returns
« Reply #2 on: 09 August 2011, 12:33:59 am »
Thanks, I live in a studio, so most of my flat is used by clients (except the kitchen) and I rent. xx
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EmilyJones

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Re: Tax returns
« Reply #3 on: 09 August 2011, 05:19:08 am »
I think it's a percentage of your living costs (rent & bills) based on what percentage of your home is used for work? For once, being in such a dinky London flat has it's benefits as my accountant says a huuuge percentage of my rent & bills are tax deductable. :) But do look up the exact numbers as you need to get the sums right.
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Friday

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Re: Tax returns
« Reply #4 on: 09 August 2011, 11:58:51 am »
Quote from: sashaX on 09 August 2011, 12:33:59 am
Thanks, I live in a studio, so most of my flat is used by clients (except the kitchen) and I rent. xx

I know in my flat it works out a about a third which makes me so mad as I use way more and have 2 businesses!! But my accountant is a coward and wont push it. Certain rooms dont count, bathroom, kitchen, hallway so I suspect with a studio it would be worked out about a third too but thats a third of all bills, electric, rent etc
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ladyjennaj

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Re: Tax returns
« Reply #5 on: 10 August 2011, 10:09:27 pm »
I put mine down as expenses! x
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