A home office can be a very tax efficient strategy for business owners

HMRC’s definition of fixed costs makes it more straightforward to claim for expenses when working from home but this applies to sole traders and partnerships only – not limited companies or employees – and qualifying criteria must be met.

Business owners with a limited company can also claim for a home office by ‘renting’ the designated room at market rates. They may also be able offset this profit against any property investment losses and therefore reduce corporation tax.

Read the full article to see how you can save tax

1 in 3 Surrey taxpayers could receive “tax error” letters

1 in 3 Surrey taxpayers could receive “tax error” letters

RJP’s tips for dealing with notifications of incorrect tax paid: Any challenges to tax underpayment will be carefully scrutinised; Reimbursements for tax overpayments are payable as lump sum
Beware of phishing scams; HMRC never use email to notify or refund taxpayers.