Calculating expenses

Grolschevik · 07-11-2015 07:08PM #1

So, prepay phone, so no bill that can be itemised...

Is there a standard formula or guidelines for estimating how much of the cost could be apportioned to business use as a self-employed expense?

Same question, but with home broadband?

barneystinson · 07-11-2015 07:24PM

Grolschevik wrote: »

So, prepay phone, so no bill that can be itemised...

Is there a standard formula or guidelines for estimating how much of the cost could be apportioned to business use as a self-employed expense?

Same question, but with home broadband?

The word is "reasonable" in that case.

What proportion of your phone & broadband you use for business depends on what kind of business you run.

Grolschevik · 07-11-2015 07:42PM

In truth, with the way my usage of both phone and broadband is, I'd be paying the same regardless of whether I used them for work or not.

I was just wondering if any of it could be 'expensable', given that I had hardly any claimable expenses in this year's return.

relax carry on · 07-11-2015 07:53PM

Grolschevik wrote: »

In truth, with the way my usage of both phone and broadband is, I'd be paying the same regardless of whether I used them for work or not.

I was just wondering if any of it could be 'expensable', given that I had hardly any claimable expenses in this year's return.

Its up to you but it must be reasonable. For example did you use your phone for 20% business use and your broadband for 40% business use? If so claim those percentages. You are the only one who can say how much they were use but keep it reasonable to the business you are engaged in.

Calculating expenses

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