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Fab Freak

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Hi there...
I have been through loads of old threads on this subject but I just can't find the info I need.

I am about to turn my box room into a ickle home salon with the help of my darling Dean and I am worried about who I need to inform and insurances etc.

I know I will have to a risk assessment,
speak to the Council about business rates split with standard community charge but is there anything else to consider :?: ,

what if my neighbours complain or object to the council (the reason I say this is one and only one is a complete arse and doesn't talk to anyof us)

Will I have to let my mortgage provider know?

I will still do mobile but I would like to offer this service as well till I go full time..

So any advice or recommendation is glady received...
 

Debsidoo99

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Hi Louise,
Can't answer alll yr thread but re: mortgage lender, yes I do believe you have to tell them that you are changing part of the use of yr home from personal to business. Not sure of the financial implications but they do need to know.
You must also be aware of the implications from a capital gains tax point of view (my tax head on now..............) If you make a profit on a normal house you live in and it is totally principal private residence then that's ok - NO CGT. BUT if you use part of yr house as a place of business then that proportion of the house used for business will be subject to the rules for capital gains. Just thought you should be aware of this what with house prices keep on the up !!! It is also time apportioned to the length of time the property is owned ie: if you owned the house for 15 years and one quarter of the house was used for business for 5 years then the gain would be worked out on 5/15 years multiplied by one quarter.
Confused ????
Sorry, but it is a valid point.
Won't affect many and can explain more when I see you next hon
xxx
 

Fab Freak

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Cheers Debs - I understand what your saying...Will show this to Dean he's my finanacial advisor/director and tea maker.....he he
 

Fab Freak

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Anymore help out their - all thoughts and comments appreciated
 

Shazzar

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Hiya Louise

I don't have any direct answers for you, as such, because I too am just starting up working from home. I do a couple of clients but have just ordered a log cabin (because I have no spare room in the house) and I will work from that. You're right, there are, I am sure, lots of little things to think about that could be easily overlooked so in the next couple of weeks, i will be contacting Business Link. They are an organisation that specialize in new businesses and starting out. If they don't have the answer to your questions, I'm sure they'd be able to point you in the right direction.

They also have a web site that might be worth a look that has loads of information on. I don't know how they get funded, I think (and only think!) that it may be government funded, so therefore I don't think you will have to pay for their services. As I say though, that's a 'think', but it only takes a phone call I guess.

Heres a link to their web site: http://www.businesslink.gov.uk/bdotg/action/home

Good luck and let me know how you go and if you found them useful.

xx
 

Fab Freak

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Thanks Shazzar - i spoke with my local branch last year so dont know why I forgot about them, duh - will send them an email
 
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