Working from home has many benefits and being able to mitigate your tax liability is no exception.
Many people are not aware of the tax benefits of beingself emlpoyed.
Moreover, a lot of people are not aware that they can be employed AND self employed…at the same time!
(In just the same way you can have several employed jobs, you can work for an employer and also work as self employed)
As a self Self Employed person, you can usually enjoy financial advantages and very often reduce your tax liability,
(often by quite a lot), depending on your personal circumstances.
(often by quite a lot), depending on your personal circumstances.
We have joined forces with one of the UK’s leading tax advisers so can help make your journey to becoming
a success from home as stress free and profitable as possible.
a success from home as stress free and profitable as possible.
Did you know that you can very likely pay for your internet marketing training just with the tax that you’ll save?
Here’s a few Tax Tips to bear in mind :
1 - Keep all your tax related records.
Tax payers lose a fortune by simply not keeping receipts for legitimate business expenses.
Tax payers lose a fortune by simply not keeping receipts for legitimate business expenses.
You can claim for so many things that it’s impossible to list here. In short, if it’s work related, keep the receipt until you know for sure whether you can claim it or not!
2 - You can claim for expenses incurred BEFORE your business was started! Several years before! So get them all out and arrange them into order for your accountant to advise you.
3 - Claim costs for working from home. If part of your home is an “office” and used exclusively as such, you can claim back part of your domestic bills such as heat, light, insurance, water and even mortgage interest!
4 - Vehicle costs. With prices the way they are - say no more! (Plus, working from home will save a load of fuel too!)
5 - Family expenses: Amongst other things, these could include daycare, nanny care (babysitting) and any other type of childcare provided while you are working. Further to this, remember that medical expenses may also be included for your whole family by employing them via your business.
6 - Retirement Plan. A fuller discussion is outside the scope of a few quick tips here but definately well worth asking our team about as you can get some really good benefits over time and towards your future - that’d you’d be annoyed if you missed out on.
7 - Lower National Insurance! Again - Self emplyed people pay class iv national insurance and get great rates in comparison to other people in the rat race.
The upshot - joining our internet marketing training system can be fully or largely offset by the tax advantages you’ll enjoy!
mk