What percentages would you put down for working at home?

Hello Louise

QuickBooks uses simplified expense method. So it is a case of adding the hours you work from home in the cog in the top right>tax profile.

The Self Employed package then calculates based on the hours you have entered when you create an expense in the product with the rent/rates /insurance header what portion would be allowable/disallowable in the Self Assessment.

Simplified expenses are flat rates that can be used for working from home. .More information on this can be found here

You can check also use simplified expenses checker on the HMRC website if you want to  see what you could claim

Any questions just reply back to this post in the Community.

Emma

Hi Emma,

Thank you for this. 

I have put my monthly hours in to my tax profile but do I now need to categorise my transactions regarding mortgage and house bill transactions? 

So for example, I pay my mortgage into my husbands account, do I categorise this transaction as 

Rent/Utilities/Insurance ?

Hi Louise

If you then want QB to work out using simplified expenses based on those hours for work from home what portion of the mortgage and bills are allowable and disallowable for your expenses then yes it would be a case of allocating those bank transactions to that category -rent/rates/insurance.In this example and it will calculate it based on the tax profile and you can check that in the tax summary report.More information on the categories can be found here.

Emma

Hi Emma,

That's really helpful thank you.

Can I ask one more question...Do I claim the money I put in to my own pension as a business cost? I remember my old accountant doing something similar but wanted to check.

Thanks again.

Hey Louise,

That may be a question best directed to your accountant; should your accountant say "Yes, you should" - then we would be the best people to tell you how it can be recorded.

However, your question is more along the lines of "Should i claim" - rather than, "How do i claim?"

I SUSPECT the answer to be yes, and you'd record it as a business expense under "Wages and other staff costs" - But i'm in no way the right qualified professional to give you a solid answer.