Certain Registration and Regulatory Requirements of the CFTC. It is illegal for entities to solicit, accept offers, offer to or enter into commodity options transactions.
Video Working from home - UK tax advice for Business Owners (Work at home uk)
Z/ Hi, I'm Graham from Inca Chartered Accountants. Lots of people run a business from home. Many of them are not sure on what they can.
Hi, I'm Graham from Inca Chartered Accountants. Lots of people run a business from home. Manyof them are not sure on what they can claim tax relief on. So in this video I am goingto explain a little about that.The first thing we tend to look at with our clients is ownership. Do you own the homeor rent it. The reason we look at that is to do with mortgage versus rental costs. Ifyou own your home we are probably not going to thing about mortgage interest in termsof claiming tax relief on it. We are also not going to look at anything to do with makingimprovements to your house. We know the improvements may be to facilitate the business. That'sbecause we do not want to blur the lines of ownership between the property and the business,and you. The main things we will be looking at are utility costs - that's gas, water,electricity, contents insurance and council tax, and, if you rent we will include therent costs as well.So how do we work out how much to claim?Well the first thing to look at there, are you operating out of a dedicated room in yourhouse or is it a laptop on the sofa in the lounge watching the tele with a glass of winepreparing your accounts. If it's the latter you can have a few pounds per week to offsetthe costs of running the business, but if you have a dedicated room then we would needto know about the structure of the house. How many rooms do you have, how many of
themare bedrooms, reception rooms compared to kitchens bathrooms and toilets. We will giveyou a calculation based on that and the costs of running it, whether you use it at the weekends,whether the kids bedroom is given over to them at evening, is their split use for thekids doing their homework. These are all the factors taken into consideration. And we aregoing to do a calculation based on that and work out an allowance for you operating abusiness from home.Couple of things to remember. Let your insurer know because you may not be covered in yourinsurance policy for running a business from home. People ask us about council tax andbusiness rates. Well to be fair, most councils won't take much interest in you if you arerunning a small business from home. If you start trading and people start coming to yourdoor a lot, if you have staff coming in there, I'm afraid they are going to take an interestand then you need to let them know. Perhaps you look at change of use. And one other thingif you run a limited company from home and it happens to be your registered office thenyou need to put a sign up to say so. So you might want to let your accountant deal withthat for you. In the next video we'll talk about one of the other things that we areasked about a lot -- company cars.
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