A client asked
I just have a few brief questions:
a) The recent update on the Whitefield blog (https://www.whitefieldtax.co.uk/simpler-income-tax-system-for-small-businesses/) mentioned a new simpler flat rate for use of home (I would consider myself in the £10, 25-50 hours bracket). So should I be putting that in my spreadsheet once a month? Is this £10 intended to cover items such as broadband (which I was thinking of claiming for on a monthly basis – ~£6 p.c.m.), or would that be considered as separate?
b) Talking about the quarterly spreadsheet, I realise I have been extremely remiss on filling that in (since I don’t need to submit it for VAT purposes), but I will need to submit the Q1-Q4 spreadsheets when it comes to compiling my company end-of-year accounts. My company end-of-year is end March 2013 (I believe). Given that, what is my deadline for submitting my end-of-year accounts? And (apart from my personal self-assessment return), are there any other major related deadlines I need to worry about related to this end-of-year?
We replied
(a) the URL you refer to refers to sole traders only, not companies. For a company, see
https://www.whitefieldtax.co.uk/psc-guide/working-from-home/
When you send your accounts spreadsheet to us, there is a box on the year end questionnaire for you to give us instructions on home office costs.
Broadband etc can be claimed separately, but strictly speaking only if the account is in the company name. Its possibly easier to leave it in the fixed allowance.
(b) Yes, your year end is 31 March. Deadline to us 31 August. Deadline to Companies House 31.12.13, Corporation Tax due 1.1.14. Deadline to HMRC 31.3.14
Other deadlines
Self assessment – questionnaire to us by 31.5.13 (not sent out yet). Deadline HMRC 31.1.14
P11D questionnaire – to us by end of May (again not sent our yet). Deadline HMRC 6.7.13
We will chase you, if necessary on these.