We have discussed the valid expenses you can claim whilst contracting. However, when you first form your own limited company you will incur some starting up expenses on which you can claim tax
This article describes those expenses and what can be claimed.
There are 3 options for formation:
Deal with Companies House directly by yourself - £30.
Use a Formation agent - £45.
Use an accountant - from £150.
These are discussed in more detail in Setting Up a Limited Company.
Pre Trading Expenditure
Any valid expenses you can claim whilst contracting that are incurred in anticipation of your trading
can be claimed, as if they have been incurred on the first day of trading.
These might include:
Printing of Stationery
Reference Materials / books.
Trade Body Subscriptions.
Web site production and hosting fees.
Legal Fees (perhaps for contract drafting or review).
Equipment and Other Capital Costs
All associated equipment can be charged to the company if the equipment can be
justified for use in the company’s trade. These would include things like
computer hardware and software, office furniture, telephone, PDA, etc. They can
be sold from personal ownership to the company.
The following are claimable:
Any costs associated with setting up an office for the company.