Community News - February 2021 9


Financial focus on... Homeworking for the self-employed


Self Employed? Running a Limited Company?


The working environment has changed immeasurably recently with a lot of us pressing spare space into use as an office – be it a spare bedroom or in my case a gap between the washing machine and the cat bowl. Whilst the £6 per week allowance for the employed has received a lot of press coverage, this month we look at the allowances (fixed or actual) for the self-employed. Fixed deductions are offered by HMRC which require no specific expenses to be kept, merely a record of the hours worked at home. The allowances start at £10pcm for 25-50 hours


worked per month, £18pcm for 51-100 hours worked and finally £26pcm for working at home for 101 hours or more per month. Alternatively, you can use a proportion of actual expenses incurred, though more record keeping is involved. First, arrive at a suitable apportionment of the total costs involved. This is often based on usable floorspace of living areas (including bedrooms) but excluding 'dead' space such as corridors, bathrooms and often kitchens. Garages can be included depending on their actual use. You would then use this business/personal apportionment


ALLENS CADGE & GILBERT SOLICITORS FOR OVER 100 YRS


for the total running costs of the house including utilities, mortgage interest (but not capital repayments), council tax, and insurance. Repairs and maintenance can also be claimed depending on how they apply to the room used for business. For example, a general roof repair would be apportioned for business use, but a maintenance to the living room (when you use the spare bedroom for an office) cannot be claimed.


Our expertise, knowledge and service accounts for a lot.


 Accounts  Taxation


 Payroll


BUNGAY/HALESWORTH/LODDON We can help with:-


 Self Assessment  VAT


 Book-keeping  QuickBooks  Sage


• Family matters • Property dealings • Financial affairs • Wills and Inheritance • Claims and Court advice • Trust and Charities work


Whether it’s for day-to-day book-keeping, monthly payroll or end of year accounts, van Dijk Accountants has the expertise, knowledge and service to ease the pressure on you to keep your accounts and taxation affairs up to speed.


On the downside, if you used, for example, one room exclusively for business (representing say 10% of the total floor area) upon selling your home you would find that that room would not be covered by the CGT main residence exemption as you had not used that room as part of your home. Whilst 10% of the total capital gain may not give rise to much of a taxable capital gain (especially after taking into account the annual CGT exemption), you may find that it still needs to be reported separately under the new 30- day reporting rules – additional administration if nothing else. To counteract this, try to ensure that the room is not used exclusively


Phone us today to arrange your free initial consultation and see what we can do for you and your business.


Bungay 01986 893134 Halesworth 01986 875246 Loddon 01508 520361 office@acg-solicitors.co.uk


It's not what you would expect. Here we all are,


for business (and of course show that you are restricting the costs you are claiming for in addition). Finally, excessive business use of a home can cause you to have to pay business council rates. Whilst this is more likely for those who regularly have clients visiting their home, have a “shop window” or put prominent signs outside their houses advertising their business, it is still something that ought to be borne in mind. For further information on any of the above points or to discuss your affairs generally, please do not hesitate to contact Robin Beadle


(pictured) at


Ensors Chartered Accountants, Saxmundham on 01728 603005. This article seeks to address general


business and financial issues and due care has been taken in its preparation. Ensors cannot accept responsibility for loss incurred by any person, company or entity as a result of acting, or failing to act, on any material in this publication. Specialist advice should always be sought in relation to your particular circumstances.


Tel: 01986 872336


Email: mail@jamison-christie.co.uk www.jamison-christie.co.uk


Jamison Christie is authorised and regulated by the Financial Conduct Authority vandijk <> ACCOUNTANTS


Incorporating Juler Tooke Halesworth Incorporating Juler Tooke Halesworth


Georgian House, 34 Thoroughfare, Halesworth, Suffolk, IP19 8AP


 01986 872706 News from Halesworth


Community Church January 2021


J.N. KITCHENS CREATIVE DESIGNS • BESPOKE MANUFACTURING • CRAFTSMEN INSTALLED


KITCHEN PROMOTIONS NOW ON! CALL US TO ARRANGE YOUR FREE HOME VISIT


We offer complete one stop shop service undertaking


Covid-19 rules adhered to


CARPENTRY • ELECTRICAL • GAS • FLOORING • TILING • HEATING • BUILDING WORK


HALESWORTH - UNIT 16 HALESWORTH BUSINESS PARK, NORWICH ROAD, IP19 8QJ


LOWESTOFT - UNIT C, RICHARD NARBOROUGH HOUSE, BATTERY GREEN ROAD, NR32 1DH


GREAT YARMOUTH - 12 HAVEN BRIDGE ROAD, NR31 0HU


DESIGN & QUOTE


FREE


Halesworth 01986 875683


Lowestoft 01502 567789


Gt Yarmouth 01493 651344


www.jnkitchensandbedrooms.co.uk 167275


socially distancing, relying on technology to connect us up, only able to walk with one person at a time and yet in this past year, each of us in the church would say that we have become closer than ever before. That is what matters - because relationships matter. What has also been encouraging is that so many people, in the UK and abroad, have been able to join us and share in that joy of fellowship. One such Zoom get together that will stay with us for a long time was on New Year's Eve. We looked back and reminded ourselves of God's faithfulness, we shared encouragements from the journey and looked forward to all that God was going to do in our lives in this coming year. The website is constantly updated with new material and it has many visitors each month who listen to the talks and read the articles. If there is a subject that you would like tackled on the website, do write and let us know via the contact page. You are welcome to join us for any of our sharing times on Zoom. You will find all the information you need on the website homepage. Life is a journey. None of us


know what we will meet along the way. What we do know is that the Lord invites us to walk with him and that changes everything. May you know his love, joy and peace in this coming New Year. www.halesworth


communitychurch.org John Sparkes


⎯⎯ ⎯⎯


F 01986 875060 E info@vandijk.co www.vandijk.co


⎯⎯ ⎯⎯


•Accounts HALESWORTH


136896 •Taxation


•Self Assessment •VAT •Book-keeping •Payroll •QuickBooks


T 01986 872706 E info@vandijk.co Georgian House 34 Thoroughfare Halesworth IP19 8AP


BUNGAY


Georgian House, 34 Thoroughfare, Halesworth, Suffolk, IP19 8AP


T 01986 893949 E info@vandijk.co 11 Trinity Street


Bungay NR35 1EH www.vandijk.co


& 01986 872706 F 01986 875060 E info@vandijk.co


www.vandijk.co A FULL RANGE OF ACCOUNTANCY & TAXATION SERVICES


Financial Accounts • Self Assessment • Income Tax • Corporation Tax • Capital Gains Tax Inheritance Tax • VAT • Payroll • Book-keeping • QuickBooks • Sage


03119905 •Sage


Alan Stannard


Architecture & Planning Est 1996


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• PLAN SUBMISSION • BUILDING REGS • ⎯⎯⎯⎯


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Tel: 01986 872094 • Mob: 07788 577 867 email: alanstannard@hotmail.com


THE MORTON PARTNERSHIP


CONSULTANT CIVIL & STRUCTURAL ENGINEERS


HISTORIC BUILDING SPECIALISTS


We specialise in low cost repair options to buildings and can assist you with any building problem


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Brunel House, Norwich Road, Halesworth, Suffolk IP19 8HX • 01986 875651


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FOR A FREE QUOTE AND A FRIENDLY SERVICE CONTACT US ON OFFICE: 01986 948033


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