What do you do in your garage? Reply


Most small businesses and employees do something in their garage.

The top choices being

Storage

In order to claim a tax deduction for using your garage for storage as part of your business or as an employee you will need to charge rent. If you don’t you will be taxed on it as PAYE.

To do this you will need a licence agreement between you and your company, the agreement might need to have some special rules in it depending on what is being stored including fire prevention and health and safety.

The rent then needs to be declared in the UK Property pages of your self assessment return.

You will be able to offset relevant costs.

 

Cars

Obviously garages are designed for cars and that’s often what they are used for.

Your company may require you to hire a garage to protect your company car and provided this is an employment condition the cost of hiring the the garage should be tax free, even if the employee pays and is reimbursed.

The employer should give the employee a letter insisting that for security reasons the car must be kept overnight in a garage.

So what are you doing in your garage?

steve@bicknells.net

 

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