Flint Bishop

Taxing time for home workers warns Shropshire accountants

Shropshire employees who take their work home with them may find they do not qualify for tax savings.

Helen Thomas, Managing Director of Dyke Yaxley Chartered Accountants, in Shrewsbury, said the internet had led to a huge increase in the number of people working from home.

"Encouraging staff to work from home is an environmentally-friendly and often cost-efficient way of running your business.

"But the flexibility of the arrangement can lead to confusion for both employers and their workers about the correct tax procedures."

Helen said most people who chose to work from home just occasionally, rather than regularly, would not be entitled to tax deductions.

"But if an employee works from home more frequently and it becomes their typical working routine, then both the company and the worker should be clear about the tax implications."

The main consideration is that for any expenses in the home to be tax deductible, they must have been incurred wholly, exclusively and necessarily in relation to the person's job.

"Certain payments made by employers to cover the cost of home working will be exempt from income tax and National Insurance contributions, but there are strict limits," said Helen.

"Generally any payments over £3 per week will need to be reasonable, and supported by evidence. They may also be scrutinised by HM Revenue and Customs, and will still not apply to people who work from home on the odd occasion."

If a company provides an employee with supplies or services in their own home in order to carry out their job, they will not be taxed on them.

"This is as long as HMRC do not consider that any use of the supplies or services for private reasons is significant - this would cover furniture and computer equipment, stationery, and all other normal office or workshop materials.

"It can also cover home telephone lines and internet access, but the rules on this are restricted, and employers should check them carefully.

"Home working is an extremely useful tool in today's business world, particularly for employees with complex family situations, but it's important that both staff and employers know where they stand."

 

 

 

Bookmark and Share

Article published by Midlands Business News on 17 August, 2010

Submit your company news and photographs to Midlands Business News via email news@midlandsbusinessnews.co.uk or submit news and events online here.

midlandsbusinessnews.co.uk is an online Midlands business news network and we welcome submissions of your company or business related news articles and event notifications.

 

 

Articles submitted by Dyke Yaxley Chartered Accountants:



  • Child benefit deadline looms - click to read
  • You can’t hide online - click to read
  • Don’t be caught out on VAT - click to read
  • Rules need to be clear - click to read
  • Builders blitzed on tax - click to read
  • Charity campaign pays off - click to read
  • Call for “real time” action - click to read
  • Fake rebates warning - click to read
  • Howzat for a good event? - click to read
  • Managers get expert advice - click to read
  • Business owners may miss out - click to read
  • Think “green” when it comes to company cars - click to read
  • VAT changes on the way - click to read
  • VAT crackdown on the way - click to read
  • Check your paperwork carefully - click to read
  • Summer work pays off - click to read
  • Grant success for motor expert - click to read
  • House builders get cash flow boost - click to read
  • Recipe for fund raising success - click to read
  • Networking pays off - click to read
  • America calls for accountancy firm - click to read
  • Keep more of what you earn - click to read
  • Mark motivates the team - click to read
  • Check your records carefully - click to read
  • Epic trek pays off - click to read
  • Sponsorship adds up for batsman - click to read
  • Barns could bring business boost - click to read
  • Race night success - click to read
  • Marathon effort adds up for Ian - click to read
  • Heat is on for plumbing trade - click to read
  • Marathon brings charity cash - click to read
  • Scam emails promise tax rebates - click to read
  • Helen celebrates diploma success - click to read
  • Stacey steps up at Dyke Yaxley - click to read
  • Pensions struggle for small firms - click to read
  • Wage freeze on the cards - click to read
  • Who’s that at the door? - click to read
  • Christmas costs stack up - click to read
  • Nicola hits the heights - click to read
  • Smile please! It’s for charity! - click to read
  • Saving for the future - click to read
  • Shropshire accountancy firm raise over £600 for charity with their annual quiz night - click to read
  • Don’t wait for them to come to you - click to read
  • Moves to simplify tax rules - click to read
  • Do you know where the exits are, asks Shropshire Accountants Dyke Yaxley? - click to read
  • Taxing time for home workers warns Shropshire accountants - click to read
  • Search the site

    News Article
    Search



    Faces behind
    the business

    Nick Beham

    Nick Behan



    PressVine
    The Maynard Hotel
    Incentive & Motivation
    Klick Solutions Media
    Gourmet life

    Need a Service?

    Search our Midlands
    Business Directory