Flat rate £4 for home office?

Accounting
1

Hi Guys, as a limited company, I know I’m entitled to claim a flat rate £4 a week for my home office (where I do all of my work) without having to provide additional paperwork to HMRC.

I was wondering how I log this in QuickFile? Can this be logged as a company expense as I am currently not taking a wage as a director.

Regards
D

2

Yes you can create new nominal and tag it as use of home

3

Thank you, can advise on what nominal code I could use? In what range? Also, where does the money go? Do I need to set myself up as a supplier?

Regards
Donna

4

Create new nominal “Use of Home” in Admin range and money goes out of bank to your account, no need to setup supplier

5

And if you don’t actually take the money out of the company at this stage then you’d record it as paid from director’s loan rather than from current account, to record that the company owes you money - the same as if you pay for a company expense using your own personal funds.

6

Can you advise what the admin range is? I’ve just logged in to create the code and it isn’t clear. Sorry for all the questions.
Regards
D

7

Category : Overheads , Sub category : General Exp

8

Thank you, all sorted :slight_smile: