Don’t miss out on claiming pre-start expenses!

🚀 Thinking of starting your own business?

Don't miss out on claiming pre-start expenses!

When setting up a new business, there are often costs you pay before you officially begin trading, and the good news is many of these can be claimed once your business is up and running.

What counts as pre-start expenses?

• Market research and business planning costs

• Travel costs for setting up the business

• Professional fees, like accountants or solicitors

• Advertising and initial marketing materials

• Equipment, software and office supplies bought before trading begins

How far back can you claim?
You can typically claim for allowable expenses incurred up to 7 years before the business starts trading, as long as they're genuinely for the purpose of the business.

Once your business officially begins, these pre-trading expenses are treated as if they were incurred on the first day of trading, helping to reduce your taxable profits.

💡 Tip: Keep detailed records and receipts to make the claiming process simple and stress-free.
Are you planning to launch a business soon? Make sure you're not leaving money on the table!