Working from home - Tax/Insurance implications

[Voodoo]

Hi all,

I am about to start a new job next month with a large corporate but my place of work will actually be my home!

I wanted to know if there are any implications that I need to think about in terms of Insurance/tax benefits or issues etc.

Any help appreciated

 

[emul]

I work from home and rather than increasing home policy all home-office equipment is covered by employers policy.

My only other peice of advise is ensure you have a quiet room, far away from distractions (I've a 1 & 3yr old) and try and get out every day for lunch - keeps you in touch with people !!

 

[Voodoo]

Thanks for that! So I just need to ensure that they cover all their own equipment...

I will actually be based out of home but on the road alot as well so thankfully I will have a little bit of sanity left after it

 

[Seagull]

You may need to inform your home insurance provider that you will be working from home. Many policies have something in them about whether the house is used purely as a home.

 

[Tax666]

I'm also working from home and spend a lot of time travelling on the road. As "emul"'s suggestion my company covered the cost of office equipment, line rental, broadband and furniture. My expenses are still forwarded to the company where they are dealt with. What I did want to say to you is that the Revenue will make a % deduction from your annual electricity and heating bill on the basis of having a home office. They advised me that this is limited to a maximum % (only suggested to me that 6 - 7% is the normal claim) and that it is absolutely necessary that you identify a specific room in the house dedicated to the home office. The idea was then to measure this room and try to equate how much electricity/heat this utilises from the standard bill. So keep those bill receipts and you should be able to make a claim.