Sole trader working from home: Premises costs

Question asked by Daren Rossiter 5 months ago

Hi, Just started using CB to get ready for MTD, so far so good. In my previous SA returns I have included a proportion of household bills to reflect the use of my home for my business. What will be the best way to do this in CB? Do I enter a one-off expense for the period or will there be separate values for this when it comes to doing returns? Any advice gratefully received! Daren.

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Hi Daren,

In this case, you can either:

  1. Manually enter the business proportion amounts for each transaction, or,
  2. If using bank feed, code the business proportion to expense accounts and the remainder to "Drawings" or "Personal transactions", or,
  3. Or just wait until after the year end and enter any adjustments to income and expenses as part of the MTD Tax Return process.

Tommy

5 months ago

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