Expenses » Second business allowable expenses » Go to message
Hi, searched and searched but came across conflicting answers.

Scenario...
Im a sole trader ( plumber ).
If I have 30K taxable profits can I reduce this to 20K if I set up a totally seperate business.
The business will be ecommerce, purchase of 10k stock / other start up costs etc.
Lastly as im April to March, is it possible to put this 10k into a seperate bank account but not to complete the purchase of stock / other start up costs until my new tax year ?

Many thanks.