Business Start Up Homepage

Question: Business start up / training?

(Posted by: Ben D on 2010-01-19 13:47:03)

I am training to become an electrician, I am having to buy tools (hand tools / books, etc) can I claim for these even though I am not qualified yet, (as they are assets to the company), and if thats the case, can I create a website, and then claim my broadband connection as a tool? I am hoping to be certified by xmas 2010?? Hopefully!! Surely this could all be classed as 'business start up fees'?? Lastly, the course costs £110 pcm, can I claim for this also?

Posted by: kemperk on 2010-01-19, 13:57:40

In the US, you can; it is called, seriously, RESEARCH AND DEVELOPMENT EXPENSES.

Posted by: Salerio on 2010-01-19, 14:52:24

Yes. Apart from the internet I don't see an issue.Aren't you hosting the website with a hosting company? Your home broadband will presumably be shared between the business and home use, so apportion the costs. You can just keep carrying forward any losses to offset against tax for as long as you need to.

Posted by: Rosemary P on 2010-01-20, 02:58:43

Usually you can only claim for expenditure up to 6 months before you start your business. Things like broadband connections are not counted as a tool. You may be able to claim part of the montly charge as business expenditure (up to 20%). Speak to your local Business Link for free help and advice on starting up. They'll be able to advise you on how to set things up. Good luck with your qualifications and your business!