Converting out building to home office - tax & expenses

[Thebritishguy]

OK, I am a part owner of small technology company. (VAT registered)

The company has no physical office so we all work out of our homes then rent meetings room when needed

I am considering turning a outbuilding attached to my garage into a home office and a meeting space. its sole use will be for work.

The costs will be around 6.5k + VAT

I am interested in the best way to do this to minimise my personal expense, e.g Putting the work through the company books to be able to reclaim the VAT (CG implications for myself at sale time?), paying for it myself and charging company for use over time or some other idea

Any thoughts or experience of doing something similar?

Thanks

[Eric Mc]

The construction of the office will not attract much in the way of any tax reliefs. Building costs are capital items but in the case of an office, do not attract any Capital Allowances. The only element of tax allowances available would be capital allowances on certain items of equipment installed in the office (shelving, fittings, equipment etc).
VAT should be reclaimable where applicable.

Converting a part of your main dwelling can have implications for the normal Capital Gains Tax exemption that applies to a main residence.

Finally, there might be planning regulation requirements involved in converting part of a home into a business premises.

[megaphone]

Check if you could be liable to business rates as well.