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Trading as sole trader bookkeeper working home office

  • Member PM.Dip
  • Practice Licence
  • 4 posts
  • # 118371

Hi guys,

Just starting out and need some help, please?

I will be offering bookkeeping services to corporate clients, but am need some guidance for my own self assesment. 

Bascially, i am/  will be completing self assesments to declare my income etc and currently spending my own cash to create the perfect home based office with furniture, laptops etc.

Does anyone have a exhaustive list of tax deductable items i can include? and best way to appotion eletric costs etc. 

Thank you 

  • Fellow PM.Dip
  • Practice Licence
  • 37 posts
  • # 118375

Hi

As you know from doing your exams, anything you spend personally for your business (like the desk, chair, laptop, printer, stationery etc) is debited to the relevant asset or expenses account & credited to your drawings account.

Have a look at www.gov.uk/run-business-from-home.

www.gov.uk/simpler-income-tax-simplified-expenses.

www.gov.uk/expenses-if-youre-self-employed

I also strongly recommend you go to your local branch meetings. They are a valuable source of information. Remember everyone there has been through what you're going through & are happy to help!

Kind regards

Hazel

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