Enter in your cash flow forecast the amount of rent you will have to pay for your premises in the months that you will have to pay it.
If you have not yet decided on a particular premises you could contact a local estate agent who handles commercial property to get an idea of how much the rent is likely to be. You should have already given some consideration to the type and location of the business premises that you will require, so they will be able to give you some guidance as to how much you will have to pay.
Bear in mind your premises should be accessible to clients who are disabled.
Your solicitor will help you with the lease agreement but make sure that you are clear about:
- whether the premises can be used for the purposes you have in mind
- how frequently the rent will be reviewed
- how long the lease runs for
- what you and the landlord are each responsible for
- the position as regards sub-letting
Offering online-only accountancy services
If you plan to work from home offering accountancy services online, you may be able to agree with HM Revenue & Customs (HMRC) that a certain proportion of your domestic rent or mortgage interest payments is treated as a business expense and set against your income from accountancy services.
If you enter the proportion of the business rent/mortgage interest here in your cash flow forecast, remember to include only the balance of your domestic rent/mortgage payments when you're calculating how much you will have to take in drawings to cover your living expenses.