CA for first year of trading, losses and carryback/fwd
As a Sole trader (who is also employed under PAYE and in need of an accountant!), built up contacts, bought equipment and set up websites before trading in 2011/2012.
SE Business is a mixture of consultancy, training and multi-media work including photography, video, designing websites and publishing in technical and national journals.
Under self employment clients paid £1500 in 2011/2012.
Expenses such as utilities, mileage allowance only for business miles (not commuting to employee workplace) understood.
Given the large investment made in audio/photographic equipment, software, and relatively small income return, what can be taken as AIA/FYA - a significant amount of equipment was bought before April 2011 and some in that tax year. The latter amounted to approximately £3000 whilst the former (including office furniture) is around £12500.
Can any other start up costs like website hosting fees, advertising costs from previous years be included?
Once the loss is calculated what is better -
1. claim £1500 for 2011/2012 and carry fwd the remainder at WDA 18%
2.claim all losses for that TY - doesn't this affect PA?
3. claim £1500 for TY and remainder offset against PAYE income of previous year?