My company is set up in Northern Ireland and I have been working for my end client through Giant for the year. I have since set up a Ltd company. Can I claim the full amount for my rental accomodation? Is it similar to the way i put it down via Giant and if so how long can i claim this for? Some say only for 2 years? Any advice would be greatly appreciated.
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You can claim for your accomodation PROVIDED that you are temporarily living away from your normal home because of a work assignment.
To do this you (a) must have a 'normal' home for your use somewhere else. (b) return back to actually live in it, frequently (usually ever weekend). If your rental acomodation has become your normal home, then no you can't claim it just because it is rented.
(and once we have established the answer to the above, there are some more considerations)
HTH
tim -
If you have been working in the same location (same square mile) for more than 40% of a two year period (9 months). That is not classed as temporary anymore and you will loose home to work mileage also.Comment
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Also don't forget you can claim anything you like. The real question is whether or not you need to declare it as a BIK.I'm Spartacus.Comment
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Yes I have a home in Northern Ireland.
This is rented, which i've declared on my SA.
I have worked for the same end client but i'm in the middle of changing rentals (which is slightly further away.)
Does this still apply?Comment
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Does what still apply?Originally posted by Wesdev
When you say that your home in NI is rented, do you mean it is rented out to someone else. If it is, then you can't claim the rent that you pay for your 'second' home as it isn't your second home, it's your first.
timComment
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My accountant says it would be my 1st home if I wasn't having to rent for the purpose of the contract. I am sceptical to say the least. In N.Ireland they are not contract savvy.Originally posted by tim123
On my SA302 my accountant put down my house as being rented for 04/05 until the present. During this time up until the 20 Nov (the end of the contract) I was filling in expenses via Giant for my accomodation I rented here in england for the purpose of the contract. The IR know my address as being the house that is rented out back in N.Ireland, which is also the address of the company.
I have since changed to a ltd company for the new contract extension, and will do for further extensions.
Will I have to now pay tax on the rental in england since 04/05? I originally putting this down as an expense.
I'm still knew to all this accounting that comes with contracting and I'm getting conflicting advice. I think what you say is correct... any other advice?Comment
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No. Just becuase you moved further away from work doesnt change anything.Originally posted by Wesdev
Its where you work not where you live that is the issue.
Just remember as Spartacus said you can claim for anything. Just expect to pay BIK on the amount itf its not allowed.Comment
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