Renting out spare room to my Business
Hi all,
Apologies if this has been asked before. I am starting my own Business and as a result I am looking to work from home (initially). My partner and I rent an unfurnished property for £750pcm with a spare bedroom. I would like to use this bedroom and the spare bathroom as my office. As it is a new venture, I want to pay myself as little as possible and therefore if I can get my business to rent this spare bedroom as my office it would help me very much.
Is this possible and what are the possible implications of doing so? Would it be best for me to look at renting a property with an external building that I can then rent to myself? I can make payments to my partner if this is easier?
Thanks in advance.
Tom
No you're not!
You can't possibly be a limited company. Limited companies don't have any fingers.
I'm also curious what your limited company business is going to do in the spare bathroom?
Who uses it?
If it's only you as director of the company, I suspect claiming for the bathroom is going to be an uphill struggle at best. If you entertain clients at home and that spare bathroom is used by them, then you might be in a better position.
depends
On whether you are a sole trader or limited company. If the later you could set up a rental agreement between yourself and the company, subject to whether you are allowed to sublet.
As a sole trader you cant charge rent but you can claim a resonable amount for using an office at home. Hopefully someone will explain this in more detail or add a useful link.