Newsletter Spring 2015

Partners at home

As a self-employed individual you can claim a fixed deduction from your taxable income, instead of calculating the actual cost of using your home for business purposes.

The monthly deduction varies from £10 to £26, depending on the number of hours you use your home for business in the month; from 25 to 50 hours, up to 101 hours or more. You don’t have to provide any receipts to support that claim, you just need to make a note of the number of hours you work from home.

This simplification was brought in from 6 April 2013, but at that time the Government forgot to specify that the fixed deduction for use of home could be claimed by partners in partnerships as well as sole-traders. That is now being corrected, so partners will be able to claim the fixed deduction for use of home, but only from 6 April 2015!