» Second business allowable expenses
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Hi, searched and searched but came across conflicting answers.
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 ?