What is tax deductible. Working from Home

goz83

Hi. After losing my sales job as a result of the recession last year, I decided to take a leap of faith and set up my own business. I qualified as a clinical hypnotherapist shortly after i lost my job and borrowed 12k to set up my Limited business from home. I've officially started trading from February and i'm trying to keep on top of my expenses. I am keeping all my receipts and statements and i'm organising them in numerical order to reflect the written statement. I now I can expense my phone and broadband and stationary expenses as well as advertising. I was wondering about the energy bills and mortgage etc. My home is a home and the living room is the practice. My company is registered to my home address. I had planned to give my accounts to an accountant but i'm wondering when I should do this. monthly, quarterly or annually? How much should this cost?

Any advice will be very much appreciated.

Gary

Mr. Incognito

Any expenses incured whollely and exclusively for the business. Any personal element must be deducted.

You'll file annually so you need to give him your expenses anually depending on your year end if it's a company or well before Oct 31 is you're a sole trader.

Hollister11

8 years later, did your business succeed OP

Loughc

Please don't dig up old threads. If you're interested in the OP's business take it to PM please.