Rob B
Member
Registered: 8th Jan 04
Location: Area Motorsport Drives: Race EP3
User status: Offline
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Hi guys,
Just a quick question as i can't find much information about it.
I technically run my business from home although we have a workshop too but the business is registered at my current home address and it will stay that way.
Is there anything i can get an improvement on due to this?
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Gary
Premium Member
Registered: 22nd Nov 06
Location: West Yorkshire
User status: Offline
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If your business goes tits up youll have bailffs knocking on your house door.
Got a feeling you should be paying business rates too. May be wrong though
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RichR
Premium Member
Registered: 17th Oct 01
Location: Waterhouses, Staffordshire
User status: Offline
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I can't answer the question except to say that when my hosue was valued for my re-mortgage last year, there was a section specifically asking the valuer if any business appeared to be being run from the property
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Sam
Moderator
Premium Member
Registered: 24th Dec 99
Location: West Midlands
User status: Offline
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If your home address is only used purely for business correspondence (i.e. bank statements, HMRC paperwork, etc.) then no it won't affect your mortgage (although it's worth asking the lender to cover your ass).
You only have to pay business rates if you are using one or more rooms in your home solely for the use of your business. Sitting on your sofa in your living room doing paperwork occasionally does not constitute business use as you obviously use the living room for personal use too.
[Edited on 20-10-2011 by Sam]
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Fad
Member
Registered: 1st Feb 01
Location: Dartford Kent Drives: 330cd
User status: Offline
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Set up your registered adress with your accountant as someone mentioned you dont need people comming to your house demanding all sorts.
Also as Sam says you need to notify yoour local authority as you will be liable for business rates. Also depending on the nature of the business your neighbours can have the opprtunity to object. E.g when you are a trader and need trade plates etc the DVLA/local authority will come visit your home/premisis to check whether you have to capacity to do what you intend.
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John
Member
Registered: 30th Jun 03
User status: Offline
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My deeds say I can't run a business from home.
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Fad
Member
Registered: 1st Feb 01
Location: Dartford Kent Drives: 330cd
User status: Offline
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Land and Property Law in England & Wales varies to that in Scotland.
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baza31
Member
Registered: 19th Apr 03
Location: yorkshire
User status: Offline
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quote:
Originally posted by Gary
If your business goes tits up youll have bailffs knocking on your house door.
Got a feeling you should be paying business rates too. May be wrong though
True. And true but they will come even if he worked away from home unless he his firm is ltd which he could pay himself from company rent I suppose
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spencer88
Member
Registered: 6th Oct 08
Location: cornwall
User status: Offline
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quote:
Originally posted by Sam
If your home address is only used purely for business correspondence (i.e. bank statements, HMRC paperwork, etc.) then no it won't affect your mortgage (although it's worth asking the lender to cover your ass).
You only have to pay business rates if you are using one or more rooms in your home solely for the use of your business. Sitting on your sofa in your living room doing paperwork occasionally does not constitute business use as you obviously use the living room for personal use too.
[Edited on 20-10-2011 by Sam]
Thought this depends on how often you use it for work?
In that if you work 20 hours a week, and those 20 hours are spent in that same room it counts?
I know the 'de minimus' rule of that if you use it less than you do for work elsewhere, then it does not count.
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