When can you claim against tax from when becoming self employed

Jbartlam

Hi I'm just setting up my own business as a wedding photographer. I'm in the process of registering the business and setting up a bank account. I have already brought some stuff for the business including an ipad to use to show pictures to clients. Will I be able to claim this against my tax. I won't have any income to claim against before April this year but already have 4 weddings booked for the summer so should have tax for next year. I have the receipt for the Ipad. Any help greatly appreciated.

Jamie

HappyMJ

jbartlam wrote: »

Hi I'm just setting up my own business as a wedding photographer. I'm in the process of registering the business and setting up a bank account. I have already brought some stuff for the business including an ipad to use to show pictures to clients. Will I be able to claim this against my tax. I won't have any income to claim against before April this year but already have 4 weddings booked for the summer so should have tax for next year. I have the receipt for the Ipad. Any help greatly appreciated.

Jamie

As long asyou only use the Ipad for business. If you use it for personal use then you can only claim a percentage of it based on the time you use it for business.

Jbartlam

Thanks for the help

The question was not so much about the item, more about timings of claims before being formally registered as self employed.

Is there a limit as to how long back you can claim as long as you can prove they are for the business? Should I claim for it next in next years tax submission? How long can I wait until I claim, if there is a lot of expenditure in the first year and less profit can I hold some back for year 2?

Thanks again