Working from home business rates

May 30, 2015
Sole Trader Working From Home

Increasing numbers of people work from home - figures from TUC suggest that more than 4 million people usually work from home. Business prices are payable on most non-domestic (commercial) premises. So, are you prone to business prices if you work at home?

In the event that you home based, you'll come to be responsible for company rates the element of your property you use for work functions - besides council income tax that will be payable on the domestic section of your home.

Much depends on the level that you use your property for work reasons and just how frequently you work there. The Valuation workplace (VOA) will start thinking about whether special alterations were made toward workspace allow homeworking.

If you've got area that you simply sporadically utilize as a house office, you may be unlikely become impacted by business prices - especially if that space additionally functions as a domestic space such as for instance an extra bedroom. Conversely, when you yourself have a space that is adjusted specifically for work purposes and its main function is related to your company or work activities, it's likely that it'll be assessed for company rates. The VOA has actually created a few examples to illustrate whenever company rates might-be payable.

The VOA will examine each instance on its own merits and could determine they should go to one to check your workplace before they generate an assessment for company rates. If the VOA chooses that the area is likely to company prices, they are going to only be payable from the non-domestic areas of you residence. The prices will be determined in the same manner as other non-domestic properties.

Source: www.taxdonut.co.uk
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