What are Occupancy expenses?
Occupancy expenses are the expenses that you pay to own or rent your home.
For example:
– mortgage interest or rent
– council rates
– land taxes
– house and contents insurance.
You can only claim occupancy expenses if the area of your house set aside for your business has the character of a ‘place of business’ (including if most of your business is conducted online). Indicators that the area of your home that you’ve set aside is a place of business include:
clearly identifiable as a place of business (such as a sign at the front of your house) not easily suitable or adaptable for private or domestic use
used exclusively or almost exclusively for your business regularly used for business visits by your clients.
If you’re eligible to claim occupancy expenses, you can also claim running expenses.
You usually calculate occupancy expenses based on the proportion of the floor area of your home that is a place of business and proportion of the year it was used for business.
In short, No dedicated areas for his business, No Occupancy expenses can be claimed.
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