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Luke filmmaker
December 6, 2021
Question

I pay for a workspace but also work from home, so can I claim some of my home rent as a self employed expense?

  • December 6, 2021
  • 1 reply
  • 0 views

Hello,

I'm finding this super confusing in the UK. I thought you could count 50% of your home rent, phone bill, internet, etc as a business expense if you use them half for work (generating income) but I can't see the process for doing that in QBO (I can only add the entire £771 I pay every month, or none of it) so how do I split these expenses - assuming I'm correct in thinking I'm eligible to deduct 50% of these expenses from my taxable income?

Thanks!

1 reply

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EmmaM
December 6, 2021

Hi Luke - thanks for your post, are you using the simplified expense method? You can use the link to work out the cost. If it is a banking transaction you can use the split function to split the transaction between the chart of accounts. Any questions on how to do that we can go through that in more detail, The QBO does not have the function to do that based on hours worked at home in a month that is only available in the Self Employed product currently by adding that information in the tax profile in that product. At the moment the Income-tax feature in QBO works best for businesses with no disallowable expenses, more info here on that.

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