HeinekenTick
Registered User
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- 15
Hello,
I set up a limited company a couple of years ago to carry on a business. I am the only employee and I work from home for most of the time (in a designated work space which is separate from rest of the abode). Home is rented.
For company accounts and for tax purposes, I include 25% of rent, 20% of electricity and 20% of broadband as company business expenses on the basis that they are a fair representation of expenses that are incurred for company business purposes.
Is there anything here that I am doing incorrectly or that tax authorities would have an obvious issue with? The reason I ask is because a friend of mine queried in particular the inclusion of any rent as business.
I checked the revenue.ie website and didn't find anything that would indicate that what I have done would be problematic.
Thanks.
I set up a limited company a couple of years ago to carry on a business. I am the only employee and I work from home for most of the time (in a designated work space which is separate from rest of the abode). Home is rented.
For company accounts and for tax purposes, I include 25% of rent, 20% of electricity and 20% of broadband as company business expenses on the basis that they are a fair representation of expenses that are incurred for company business purposes.
Is there anything here that I am doing incorrectly or that tax authorities would have an obvious issue with? The reason I ask is because a friend of mine queried in particular the inclusion of any rent as business.
I checked the revenue.ie website and didn't find anything that would indicate that what I have done would be problematic.
Thanks.