Records for new business

25/10/2018 07:23:11
I have just registered my business as starting at the beginning of this month. However I have been purchasing equipment, insurance, membership fees etc. over the last couple of months. Can I record these things as business expenses even though they were prior to the official start date?

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Re:Records for new business

25/10/2018 07:54:49

Thanks for your question.

You can claim this "pre trading expenditure" as soon as you start getting an income from your business. Here is a link to the relevant section in our Business Income Manual .

I hope this helps.