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Pacey account book,claiming expenses before trading?
Hi everyone I need some advice please.I just registered and will be using Pacey account book I heard I can claim alot of expenses but wondered can I still claim expenses before I registered( few weeks ago). Could I still claim my introductory course and first aid( this was paid for in December 2014) or should I start with expenses from January this year? Im confused :/Dont want to make a mistake with it.
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Hello and welcome
The normal HMRC tax year runs 6th April to 5th April each year but you can pick any start finish date for annual accounts as long as you don't loose days between years. Mine always starts on the first Monday in April and finishes the Sunday before the first Monday in April IYSWIM. You may find it easier to run a short accounting year from the date you start childminding to beginning of April 2016 to be in line for a full year next year, but you don't have to
With start-up expenses you can total them all, even if they span different tax years/years, and put them on the first line of your accounts book as "START-UP COSTS", keep all the receipts together in an envelope also marked "START-UP COSTS"
HTH xx
Last edited by tulip0803; 25-07-2015 at 06:49 PM.
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Hi great,thank you that makes alot sense,I wasnt sure how to claim start up costs as they wer spread from December last year to now.
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