With the rise of remote work, managing household expenses is more crucial than ever. Many people are now searching for ways to offset increased costs from working at home.
- Searches for information on what expenses can be claimed back have surged by 214%.
- Self-employed individuals can claim a portion of housing expenses as business costs.
- Employees can claim a flat rate for home office costs or actual expenses with evidence.
- Simple changes can help reduce heating, council tax, and electricity bills.
Amidst the ongoing shift towards remote work, many find themselves grappling with household expenses. Searches for guidance on what can be reclaimed have increased significantly. According to trend data, these searches have jumped by 214% in the last month alone, indicating a strong demand for cost-saving strategies.
For self-employed individuals, it’s possible to claim a portion of housing expenses as allowable business costs. You can include mortgage or rent interest, utility bills, and home insurance. This can be done using a flat rate simplified expense or by calculating actual costs based on usage.
Employees can benefit from a flat rate claim of £6 per week, amounting to £312 annually, for home office expenses. If actual expenses surpass this rate, it’s possible to claim the excess by providing utility bills and receipts, ensuring these costs are work-related.
Additionally, there are numerous methods to reduce costs for those who cannot claim. Heating costs can be lowered by proper insulation and strategic use of household appliances. Council tax reductions are possible for those living alone or with a low-income household member. Electricity bills can be managed by adopting energy-efficient practices such as using LED lighting and eliminating unnecessary device usage.
Effectively managing work-from-home expenses requires understanding claimable costs and implementing practical savings strategies.
