There are many financial advantages to working from home. If you would like to work from home, Glasgow is the perfect place to do so. A Glasgow accountant from The Kelvin Partnership, located in the West End, will give you all the support needed.

The services we offer will enable you to progress with your work, in a location of your choice. Your office can be anywhere! Financially, there are an abundance of tax and money saving advantages you will benefit from when you work from home.

Self Employed?

If you are self employed and work from home, you will benefit from deductible expenses. HMRC introduced, ‘fixed costs’ to benefit those who work from home. Covering council tax, insurance premiums on the property and mortgage interest. From these expenditures, a certain percentage can be offset against your business income. You can calculate your allowable expenses using a flat rate, which is based on the hours you work from home, every month. This flat rate does not include internet and telephone expenses. This makes it much easier for you to work out your expenses because you do not have to work out the proportion of personal and business use for your home. However, you can only use this method of working out your expenses if you work for 25 hours or more a month. Our accountants from The Kelvin Partnership can provide you with all the information you need.

Working from home, but for someone else?

If you are working for someone else and work from home Glasgow has the best accountants to help you! You may, like self-employed people, be able to get tax back for some of the bills if you work at home on a regular basis. You can only claim things to do with your work. For example, business phone calls. Though, if you have a ‘homeworking arrangement,’ with your employer, they may also contribute towards your expenses. If your employer provides you with up to £4 a week towards your expenses, no receipts will be required. However, if your employer contributes more than £4 a week you will need to provide the HMRC with receipts.  Overall the tax advantages of working from home, are very beneficial and worthwhile if you are a small business or have the option to work from home within your company.

Money Saving Advantages

There are plenty of advantages as to why to work from home. Ultimately working within your own space and in an easily accessible environment cuts the money you spend on commuting. Whether you take the train or you drive to work, your outgoing expenses towards tickets, petrol or car maintenance will decrease considerably. Prone to a working lunch? Think of how much money you spend each day on bought food and coffee! Staying at home will help you reduce these costs. The Kelvin Partnership have many services that will make your transition from office to home, easier. For example, if you are self-employed, we will help you with your business plans, provide you with a business support session if necessary or a strategic planning session. It is very important to us that you feel comfortable with your decision!

If you are thinking about deciding to work from home Glasgow is the best place to do so, with access to The Kelvin Partnership for support!

If you would like any more information, contact us.