Pro-Taxman

Simplified Expenses

A quick guide on how to manage costs and expenses as a work from home landlord

Managing a rental business from home A landlord will often manage their property rental business from home, and in doing so will incur additional household expenses, such as additional electricity and gas, additional cleaning costs, etc. As with other expenses, the landlord can claim a deduction for these when working out the profits of the …

A quick guide on how to manage costs and expenses as a work from home landlord Read More »

Here’s how to reduce business and household costs by using simplified expenses

Simplified expenses for smaller businesses Certain unincorporated small businesses may choose to use the ‘cash basis’ when calculating taxable income, under which participants are taxed on the basis of the cash that passes through their books, rather than being asked to undertake complex and time-consuming calculations designed for big businesses. Whilst easing the administrative burdens …

Here’s how to reduce business and household costs by using simplified expenses Read More »

Simplified deductions where your business is based at home

Many small businesses are run from home. Where a business is run from home, household costs will be incurred which are attributable to the business. These may include additional costs of gas and electricity to provide heat and light to the home office or workshop and to power the computer or equipment, the costs of …

Simplified deductions where your business is based at home Read More »