Home as office costs - new rules wef April 2013

Do the new home as office rules which apply from April 2013 apply to limited companies? I didn't think they did until I read the followiong statement from an online tax reference library to which I subscribe:-

"From 2013-14 unincorporated businesses can choose to make a flat rate deduction for use of home for business purposes instead of claiming deductions for actual expenditure incurred (ITTOIA 2005 S94H). These flat rate allowances have been introduced as part of a set of simpler rules for some business expenses under the banner of ‘simpler income tax for small businesses’.

If an incorporated business would be allowed to deduct expenditure in calculating the profits of its trade in respect of the use of home for business it can use the flat rate deduction (ITTOIA 2005 S94H(1) ans (2))."

Thanks.

 

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I don't know many companies...

Steve Kesby |
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