Registering the Business

[linda2girls]

Shall I phone and register my business this tax year or wait until after April? I have already started spending on bits and pieces and have kept receipts. I intend to use an accountant, but didn't really want to pay an accountant for the sake of a couple of months. Can I register after April, and keep the receipts for then.

Sorry if I haven't explained myself very well.

Linda.

[funfunfun]

Shall I phone and register my business this tax year or wait until after April? I have already started spending on bits and pieces and have kept receipts. I intend to use an accountant, but didn't really want to pay an accountant for the sake of a couple of months. Can I register after April, and keep the receipts for then.

Sorry if I haven't explained myself very well.

Linda.

I too have bought items ......would be interesting to see your replies !!

[funfunfun]

I too have bought items ......would be interesting to see your replies !!

I think for what i have been told ....keep every reciept over £10 and when you start put it down as strart up costs and then .....when you start minding put it as a loss !!

(i think )

[Zoomie]

You shouldn't carry expenses / income from one year to the next, so register now for this tax year and declare a loss (all your expenses) against your SE earnings.

then next year you'll be able to do your accounts as usual, but there is a place right at the end of the declaration, where you will be able to carry forward this years loss, and thus pay less (or no) tax, if any is due.

[linda2girls]

Thanks everyone. I think I will phone and register soon.

Linda.