Fire insurance

Your fire insurance is tax-deductible

Can you, as a self-employed person in Belgium, put your fire insurance through as an expense?

Did you buy or rent business premises? Then it’s simple: yes.

Do you use part of your (rented) home for professional activities? Then the answer is: yes, but partially.

It all depends on the part of the building that is used for professional purposes. You can then deduct the fire insurance for that part. 🏡

What percentage of your fire insurance can you deduct?

A few conditions apply (as with every business expense 😉) to deducting your fire insurance.

For instance, the professional part of your home must be clearly separated from the private part.

You can assign a percentage of the home to professional use, and only deduct the fire insurance costs for that part. The percentage of the fire insurance you can deduct is proportional to the part you use for professional purposes. 

Do you use 20% of the home for your self-employed activities? Then you can book 20% of the fire insurance costs as a business expense. There is no fixed percentage that you may deduct as a self-employed person for fire insurance. In most cases, the surface-area percentage is used as the yardstick: 

The part of your home in square metres that you use for your business, relative to the total surface area of the home. 

If the fire insurance relates exclusively to a building you use only for professional purposes, you can deduct it in full. Full deductibility is also possible if the fire insurance was taken out specifically for your professional space.