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News - 21 August 2014

New Rules to help Home-Based Businesses

 The government has announced changes in legislation to make it easier for people to run a business from a rented property, or begin a business from home.

 
Stuart Coleman, Manager of the Tax Department of ABDS comments:
“The new measures include new guidance on business rates and updates to planning guidance to make it clear that planning permission will not normally be required to run a home-based business and make it simpler to run a company from a rented property.”
 
Business minister Matthew Hancock said: "We'll give people the confidence they need to run a business from a rented home, making sure that the majority of home businesses are exempt from business rates and our aspiring entrepreneurs have the information they need to start up and grow."
 
The law will also be changed so landlords can be confident that agreeing to a business within their property will not undermine their tenancy agreement.
 
Liz Peace, chief executive of the British Property Federation, said it firmly supported the removal of "unnecessary barriers" to setting up at home.
 
If you need any help and advice on the implications of Property Ownership, Letting and Taxation, contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar to discuss how ABDS can help.
 
ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900 E-mail: abds@netaccountants.net
 
Brilliant with numbers  
Great with people  
Clear and precise with advice
Timely and cost effective
In touch with issues that face our clients
Mindful of our client’s long term strategic goals
 
Helping Your Business is Our Business

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