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Bills! (Read 2595 times)
Forever Forest
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Bills!
31st Oct, 2015 at 9:48am
 
Hi all,

I've tried to find confirmation of this through my own research but to no avail.

A friend tells me that a percentage (I think he said around 20%) of what I pay on my home residence bills (council tax, heating etc) can be offset against my second property rental income.

Anyone know if this is true?

Thanks in advance
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planteria
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Re: Bills!
Reply #1 - 31st Oct, 2015 at 10:18am
 
i can't see how it could be.
business expenses can be offset.. perhaps the idea is that you claim that running your property business from home uses some of your home resources?
i used to have a home office at my apartment and it was suggested i should claim as above, but in theory it can lead to a tax charge when selling the property Undecided
i wouldn't bother.
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Re: Bills!
Reply #2 - 31st Oct, 2015 at 11:28am
 
Yes, I think that was the idea he was referring to.

That a certain part of the home costs could be offset as business.

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planteria
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Reply #3 - 31st Oct, 2015 at 11:58am
 
yes, with you, by all means look into it, but i wouldn't bother.
when it comes to HMRC i'd keep your home as entirely yours.
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Re: Bills!
Reply #4 - 31st Oct, 2015 at 12:10pm
 
ah ok.  Thanks
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benwolves
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Re: Bills!
Reply #5 - 20th Jan, 2016 at 8:11am
 
I am led to believe that a figure of 208 for home office expenses on your tax return will not be disputed or receipts asked for. 4 a week is considered reasonable.

If you believe you can claim more then its in your interest to break it down and claim the extra!
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