Fixed Rate Deductions for use of Home for Business Purposes
The Finance Act 2013 introduced a simplified expenses regime to allow a person who uses their home for business purposes to claim tax relief without having to compile a detailed claim. From 2016/17 the legislation will be amended to clarify that the fixed rate allowance will also be available for partnerships. In addition, where the fixed rate deduction is claimed in relation to one premises and the claimant has more than one premises used for business purposes, only the fixed rate deduction may be claimed in relation to the other premises. There is no ability to ‘mix and match’ claiming a fixed rate deduction for one premises and a claim for apportionment of actual expenses incurred on another.
Date: 6th April, 2016
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