Introducing a new ‘use of home’ calculator for Sole Traders
Last Updated on 31 August 2023
I’ve had a couple of emails at the tail end of August, asking about how certain expenses are calculated when sole traders are doing their self-assessment tax return.
One area that always causes confusion is the ‘use of home’. People usually know that something is offset-able for heating and lighting, but how is this calculated? And what else can be included under ‘use of home’.
I decided to throw together an online calculator that sole traders can use, to try to make the calculation, based on advice from HMRC and inspired by a friendly accountant who makes great video explainers for sole traders in the creative industries.
Click below and have fun getting the page to do all the sums for you!
Please note:
Although every effort has been made to provide accurate tips and information, David Thomas Media Ltd accepts no responsibility for any errors, omissions or out-of-date facts. Trainees are advised to seek up-to-date professional advice on all financial and tax matters before making decisions relating to these subjects. Nothing in our notes, courses, webinars, downloads or social media should be considered as financial advice.
We believe our tips are useful - but they are only tips!
Posted on 31 August 2023
