If you have or own a business from home, you are entitled to claim a fair and reasonable portion of the house out goings.
Usually, the proportion you can claim is based on the area used for business purposes (for example, an office, storage, workshop), as a percentage of the total area of the home.
Outgoings claimable include:
- Mortgage interest
- House and contents insurance
- Repairs and maintenance
- Telephone rental
It is not necessary to set aside a specific room for business purposes, nor is it necessary for your home to be physically changed to suit the business.
If you have any queries whatsoever, don’t hesitate to contact your wellington accountant.