Ask the Accountant!

Q. “I’m self-employed in the UK and need to do a self assessment tax return, what’s the one expense most people forget they can claim back on tax?”

A. One of the most commonly forgotten expenses a self employed person can claim back is if you use your home for work.

If you work from home — even for just a few hours per week — you can claim a proportion of your household costs. These include heating, electricity, internet, and council tax.

HMRC sets out a simplified flat rate or you, or your accountant, can work out a fair percentage of actual costs – it can add up to a worthwhile saving on your tax bill, so definitely worth doing.