setting up costs

[betty boop]

Does anybody know how I could claim for my set up fees? I started my training Jan 2011 but did not start working till May there for no tax return in 2011, So as the tax year is April 2011 to April 2012 how can I claim for my set up fees any ideas anybody?

[Kiddleywinks]

Enter all your expenses as 'set up costs' in your accounts

It is a misconception that you receive actual monies in your hand for setting up, unless you receive a grant which you would enter as income anyway.

All costs are deducted from your income and what is left is your profit. Profit is what you're taxed on

[MrAnchovy]

Yes, just include them in your 2011/12 return.

[Rachael's stars]

hi sorry to but in but would u need receipts for all the things u have paid for during setting up ?
thanks

[silvermist]

hi sorry to but in but would u need receipts for all the things u have paid for during setting up ?
thanks

I keep receipts for every thing. I was also told on my ICP course to keep a notepad in my bag incase I buy anything from a car boot, that way you can still get a receipt signed.

[betty boop]

Thanks everyone

[MagdalenaS]

Hi, I was wondering if someone can help me. I am new registered childminder. I bought my car before i was registered. i was wondering if i could put part of it witch i am using in my work in capital allowances?

[Chatterbox Childcare]

Hi, I was wondering if someone can help me. I am new registered childminder. I bought my car before i was registered. i was wondering if i could put part of it witch i am using in my work in capital allowances?

Can't see how you can claim anything until you start working as you wouldn't have done any business miles for a business percentage yet apart from training maybe?? What would you be claiming for?