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Claiming business expenses for second property
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In an article on umbrelladetective.com, contractor accountant David Colom says they can make the claim if the property is only used for business purposes.
So although the property should be used as an office, the fact that the contractor might sleep there would not affect the claim.
Costs for things like refurbishments, utilities, phone and internet and council tax can be claimed.
The expert says mortgage interest payments also fall into the category.
If you need advice on how to claim business expenses, the team at Excellium Umbrella is happy to help.
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Video Transcript
Contractors are being advised they can claim non-capital costs of running a second home as a business expense.In an article on umbrelladetective.com, contractor accountant David Colom says they can make the claim if the property is only used for business purposes.
So although the property should be used as an office, the fact that the contractor might sleep there would not affect the claim.
Costs for things like refurbishments, utilities, phone and internet and council tax can be claimed.
The expert says mortgage interest payments also fall into the category.
If you need advice on how to claim business expenses, the team at Excellium Umbrella is happy to help.
