Starting a business - do you need to register it straight away?

Laurajo_2

Actually, you can claim relief on pre trading expenditure - provided a trade did actually start.

It's treated as incurred on the day the trade started...although in my mind if you are advertising and looking for customers the trade has started already, so it's a moot point.

Nice guy Eddie is quite correct - however I believe that if you need to complete a tax return, the deadline for registering for self assessment is 5 October following the end of the tax year.

You don't need a separate bank account for your business, although it does make life easier.

If you're receiving certain benefits, becoming self employed will affect your entitlement to them.