First tax

[AnnR]

I am about to do my first tax return. I registered in feb 12 and got my first mindee in oct 12. My question is can I put through my expenses for my registration eg first aid course etc from 2011.

Thanks

[Rick]

I am about to do my first tax return. I registered in feb 12 and got my first mindee in oct 12. My question is can I put through my expenses for my registration eg first aid course etc from 2011.

Thanks

Yes as it's a setting up cost. Just out of interest, you didn't have to register with hmrc until you actually started work (or just before). I had my first mindee in November but I don't have to fill in a tax return.

When did you tell hmrc you had started your business. If after April then you don't have to do a tax return

[AnnR]

I told them and signed up in sept 2012 just before my first mindee started. I thought you had to do a return no matter when you started.

So does that mean everything I've earned and expenses I would enter for my tax return for 2013/2014?

Thanks

[Rick]

I told them and signed up in sept 2012 just before my first mindee started. I thought you had to do a return no matter when you started.

So does that mean everything I've earned and expenses I would enter for my tax return for 2013/2014?

Thanks

The tax year runs from April to April. If you started in September 12 then your first tax year is from April 12 to April 13. We haven't got to April 13 yet so your accounts from when you started to April 13 will need to be submitted by January 14. You can include any set up costs in your accounts.

Hope this helps :thumbsup: