The Proofreader’s Parlour
A BLOG FOR EDITORS, PROOFREADERS AND WRITERS
HMRC's Specific Tax Deductions: Use-of-home Examples is a super link for UK editorial freelancers who fill in their own self-assessment forms and want some guidance on what deductions they can include. This one-page guide gives seven examples, and one may well provide a solid outline for your own small business set-up.
The example of at number 4 is an almost perfect match for my own set-up, the only difference being that "Chris" writes the words while I check them for errors. If one of these examples fits your editorial business model, it's relatively simple to build a spreadsheet with the equivalent formulae embedded to suit your own needs.
Of course, you'll need to investigate what other professional expenses are tax deductible including professional membership, software, hardware, training, broadband usage, domain name fees, and mileage, but the above link is really useful for working out what fixed and variable deductions you can make that are related to the building you're working in.
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