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JOHN NEWTH submits that all is not lost when home alterations and improvements are made to accommodate working at home
KEY POINTS
- Companies can usually claim for VAT on building work.
- A concession exists for building work undertaken for business and domestic purposes.
- Other tax reliefs available to the self employed.
Working at home is increasingly popular and necessary; it extends to employees and company directors as well as self-employed taxpayers.
The minimum arrangement for home working is to set aside an existing room for full or part-time use as an office or workroom.
In many instances this is not possible or convenient and consideration will be given to a home extension garage or loft conversion or designated office shed in the garden.
This will involve the self-employed taxpayer or shareholder-owned company in a certain amount of capital expenditure. Building work and decoration will be required as well as the purchase of computers desks filing cabinets ...
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