| Archive for Downsizer For an ethical approach to consumption |
| marigold |
Self-employed can offset mortgage interesthttp://www.independent.co.uk/news/business/news/selfemployed-can-set-mortgage-costs-against-tax-says-hmrc-856994.html |
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| jema |
blinking heck, that looks like good news 
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| marigold |
Probably need further investigation before getting too excited, but it might ease the strain a bit for some people. |
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| orangepippin |
I agree, this may not be what it appears - good news from HMRC should always be treated with caution!
I wonder how this affects people in normal employment who are home-based? The article mentions that HMRC have clarified some other expenses - I will be interested to see if they have got around to increasing the 40p/mile limit for using your own car on business, which is now way out of step with fuel costs (of which a large element is tax that HMRC *has* found time to put up). This is a cost that hits many public sector workers who effectively must have a car to do their jobs. |
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| RichardW |
Dont want to upset you but its not. Even at £6 gallon (£1.35 L) the fuel cost per mile is only 15p on a car doing 40 to the gallon (and lots of newer diesel do lots more than that). Ok other costs need to be added to but purely the fuel going up is only a small % of what that 40p is for. Richard |
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| orangepippin |
Good point. Individually it may not make much difference then, but collectively the government is achieving additional tax income. A bit more consistency would be nice. If tax revenues from petrol are going up, rates on petrol-related expenses should also go up. If you make a mistake on your tax return, you are penalised. If they make a mistake, they should be penalised an equivalent amount etc. | ||
| RichardW |
With you on that one. |