A fitness instructor started self employment on 14th March 2014 and has a year-end of 31st March. He therefore needs to report the self employed income and expenses in his 2013-14 self assessment return. His income in that period was only £20 but he would like to claim pre-trading expenses going back 6 years, this will generate a loss to carry forward to 2014-15. These include
gym clothing
boxing gloves
some gym equipment
Special vitamins and nutrients taken to "build up" to a required level for training
Car
Telephone
Training courses to develop knowledge of fitness training
Training courses for how to run a self employed business
Can he claim these expenses and if so, which ones would be Capital Allowances (car, clothing, computers & equipment)?
In respect of the Capital Allowances, what type of capital allowance would they be categorized as on the tax return?
Thanks
Replies (5)
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I think he needs a door and would hope that it didn't hit his very muscular, chemically enhanced [***] on the way out.
I think he must have an accountant to solve all the issues related to the gym instructor, gym equipment and evrything.