Stueyb

Hi peeps,

Just doing (yet another) business plan. Now I plan on using the spare room as an office. The questions I have though relate to costing, tax etc.

Basically, ill be using the house electricity, heating, internet etc along with the broadband. So how do I put this down/explain this in my business plan when they ask about business premises cost etc. How can I put down for electricity, coffee, etc etc that I use that I also use personally ?

fast bloke

just put down premesis overheads - £600.00 or whatever - explain exactly as you have done here if they ask you.

At BP time they want to see if you have thought it through. At taxman time he wants to see if you spent it.

Tiggs

be aware that if your acc is squeaky clean he will warn you of issues such as ensuring your expenses are truley for sole business use (home IT gear for example) and then be aware that you dont want to be lumped with business rates on the house or loss of primary residence relife on that part of the house...and therefore CGT.

Far from my field but these are the issues i was warned about when i set up my home office.
T