Promises of no daily commutes in rush hour and riddance to stuffy dress codes make the idea of working from home sound too good to be true… so where’s the catch?
Whilst many people fantasize about the ideals of a home office, the assumption of expensive setup and running costs is enough to send a shiver down many the contractors’ spines. Here at ClearSky, we believe it shouldn’t have to cost an arm and a leg to work from the comfort of your own home – take a look at our top tips for helping you get more bang for your buck when working from home.
Expenses aren’t just limited to the conventional office space, there are many types of expenses that can also be claimed with regards to a home office too, helping you keep costs of operation down. These expenses can include job-orientated equipment (i.e. laptop and software), internet bills and even soft furnishings.
However, like all expenses, there is a fine print with T&Cs to be conscious of when planning your switch to a home office. For example, to claim back on internet bills, the internet connection must fall within the ‘wholly and necessarily’ rules, with a return of 100% internet costs only being available if there is a separate broadband line that feeds directly and only into the office, however less tax relief is still available using the right protocol.
A tax relief on the space itself is also possible through renting the room to your limited company, but beware this would have to be declared in your Self-Assessment, making it subject to further taxes after expense deduction. You can find more about allowable expenses in our comprehensive guide.
Creating your space
As well as the chance to claim back on some softly furnished office essentials, you can create a work space of your own cheaply through the use of thrifty shopping. Although the haul through charity shops and auction websites such as eBay may be a bit more time consuming than picking up that luxury leather executive chair from IKEA, the minimal dent in your pocket will be worth it later.
Furthermore, getting the most out of each piece of equipment is a good way of stretching your money more – so keep your eyes peeled for those one hit office wonders of multi-functionalism. Multi-functional devices such as a printer-scanner-copier will deem very beneficial for both savings of space and money.
Ditch the dial-a-tone
Cut down the costs of business telephone bills by avoiding the use of the conventional landline – keep your finger on the office pulse using such online communications tools such as Slack and Skype instead.
How can ClearSky help?
Alongside being thrifty will your office setup, the easiest way to save money is to increase your take home pay. Affected by location, age and industry, your take home pay could be more than your settling for, use our Day Rate Calculator to see if you’re getting the most for your work.