Cardens A-Z Guide of Business Expenses You Can Claim: L is for…
LIGHT & HEAT
If you work from home, just like like council tax, and rent, you can also claim tax relief on a percentage of your light and heating bill (e.g. electric, gas and oil). The amount will be based on how much you use your home for business and how much for non-business.
However if you work from an office you can claim the full cost of your lighting and heating bills for tax relief.
When paying monthly loan payments, the full cost will not be offset against business profits for tax relief in the year. Only the interest proportion gets consideration and the rest of the cost is dealt with in a different way.
If an item purchased (using loan funds) is used purely for business use, then you will be able to claim the whole amount for tax relief. However, if there is any private use of an item bought, then the interest will be split accordingly between business and non-business expenditure.