Leaving a paye job can I offset the cost of new laptop against paye earnings

happenstance

I've left my paye job and will be starting a few projects that hopefully will make a profit, but not this tax year.

Can I offset the cost of buying a new laptop with the income tax I've already paid this year?

Nearlyold

happenstance wrote: »

I've left my paye job and will be starting a few projects that hopefully will make a profit, but not this tax year.

Can I offset the cost of buying a new laptop with the income tax I've already paid this year?

Have you officially started your new business?

[Deleted User]

You can claim the cost of the laptop in your first accounts which will be declared on your 2015/16 tax return. If the accounts show a loss you can set this loss against your PAYE earnings for this year.