Claiming Pre-Trade Expenses

Claiming Pre-Trade Expenses

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Hi,

I have to fill a tax return. There are some expenses (about £500) which are spent before the trade start. I know they are allowable expenses and know they should be deducted from profit as expenses.

Is there special boxes in tax return to claim them or just simply deducted them from profit like other expenses which spent after start of trade?

Thank you for your help.

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By Manchester_man
27th Dec 2015 21:33

No special boxes, they are treated as expenses incurred on the first day of trading.

Thanks (1)
By [email protected]
28th Dec 2015 14:29

Thank you very much Manchester_man.

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