There are two elements of working from home:
1) working under flexi rules for the company that employs you, or
2) running your own business from home.
If the former, please agree with your boss what they are going to cover expense wise, and how they will agree the hours you work. You should also seek a bonus, since you are reducing company costs.
If you are renting, then you are obliged to inform the landlord and if you have clients visit, please have your insurance revised to cover that.
If you are buying then please inform the mortgage company. Insurance has to be amended too.
Such as contents and also public liability cover.
In most cases, flexi working does not see clients visiting.
So onto number two and running your own business from home – link to follow.
2) running you own business from home.
All the above apply and more so – I would seriously discourage having people visit – suggesting a coffee shop or hotel as better, especially for people who work alone. You really do not want a nutter in your house or flat.
Create a routine in your life and build in social, me time, otherwise you will become stale and very quickly. In an office there is interaction, on your own at home, there is not.
A daily To Do list done the night before is now vital. Too many distractions otherwise.
Go out for a coffee/tea or a walk at some point – I have made friends with all the independent businesses locally and often pop in for a chat.
Also look for support such as here in this group, where you can share your success and seek guidance.
Keep an accurate record of all expenses – they are tax deductible.
Don’t forget energy a percentage of your council tax charge.
If your profit is less than £10,000 then claim working tax credits – these apply to the self employed too.
Create a phone line for business use only – it is 100% tax deductible. My link will explain more. And of course good broadband, go fiber if your area supports it, especially if you have family too.
Check you can use your home address for correspondence purposes. If not, seek an alternative, such as MailBoxes Etc. or your accountant.
Don’t be afraid to seek help and see what grants may be available as a start up or small business.
Networking groups have already been mentioned – there are also others less formal that meet as a coffee morning and some Chambers of Commerce run lunch time events, plus offer training in skills you need.
That covers most of it and my link is here:
Filed under: Case Studies, Combyne Group Update, Working from Home | Tagged: business, cash saving, Combyne Group, cost-control, employed, networking, self employed, working from home | Leave a comment »