darrenram started this topic @ 21:27 on 26/07/2005
Hi, possible not the best place to ask this question but have received valueable advice from this site so worth a try.
I've be running an online web service for the last few years free of charge and due to the moderate success have decided to introduce a premium service for a yearly subscription. This has gone quite well and I am in the process of registering the company etc.
If, before my official registration date, I paid costs out of my own pocket ie Web hosting etc. Can I now claim this back as a business expense ? or is it just a case of being able to claim next years costs through the business.
Thanks,
Darren.
RE: New company and business expenses
JasonJ3k | 30/07/2005 12:15 PM
if you can provide receipts then i dont see any reason why you couldn't include them as valid business expenses
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RE: RE: New company and business expenses
swiftbrook | 30/07/2005 05:35 PM
Check with the Inland Rev, but I am sure you are able to claim back expenses involved in setting up the business for up to 3 or 6 months before the official start date.
Regards,
Martin
RE: New company and business expenses
BKE | 31/07/2005 06:36 PM
With IRD you are able to claim back costs relating to your business for up to three years before your date of incorporation. This IS handy. You can claim most things back, and a list of exceptions is available on www.inlandrevenue.gov.uk, or at your local IRD office.
Regards
Louise