Start up costs on Tax Return

[Lolla]

Well now that it's 2013 I'm starting to have a little panic upon realising I've only got 30 days to get my tax return in....EEEP!! I am struggling on where to put my start up costs - my business started in Feb 2012, I have filled in all profit and expense bits so thats fine. But I spent quite a bit before Feb '12 on equipment etc to start up - can't find anywhere on the online tax return form to enter this info? Does anyone know where it is or if it's called something else?!

I've got the 'Self Employment (full) Notes' in front of me and I can't see for looking?!

Thanks in advance guys.

 

[Miss Pink23]

Cant remember the name exactly, but im sure its the first box in that section, something like costs - products purchased etc.
x

 

[leannelily]

I have mine to do to :s dreading it

 

[Bluerinse]

I started in feb 12 all be it the last 2 days, but I've done my return and had a refund so don't panic too much x

 

[Pinkbunny28]

Mines done. I just need to press submit but keep putting it off cause worried I've done something wrong! Lol x

 

[NiCshairstudio]

I started my salon in June so i don't need to do my tax return till next Jan (i hope, i haven't been told i do) so this thread will come in handy for me for then lol. Just a question on top too do you guys pay tax as you go along or just at the end? Do you do it yourself or better to have an accountant? Im dreading ding mine incase i have to pay loads and don't have it to pay :'(

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[Lolla]

I still can't find it

It's all done apart from inputting my start up costs...

I don't think I'll have to pay any tax as from Feb when I started to 5th April, I didn't make any money... spent too much on Gelish! :3 Damn you Harmony!

 

[NiCshairstudio]

I still can't find it

It's all done apart from inputting my start up costs...

I don't think I'll have to pay any tax as from Feb when I started to 5th April, I didn't make any money... spent too much on Gelish! :3 Damn you Harmony!

Im sure you won't then Hehe, if you call them tomorrow Im sure they will be able to advise you x

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[Miss Pink23]

Right, just looking at an old one of mine, you can put it in the section called 'allowable business expenses' and then in the first box called 'costs of goods bought for re-sale or goods used'.
But, your annual turnover will be low, so you dont even have to split up your costs, just fill in the box for total expenses.
x

 

[Lolla]

But, your annual turnover will be low, so you dont even have to split up your costs, just fill in the box for total expenses.
x

You mean just lump my start up costs and expenses Feb-Apr together? :green:

 

[Miss Pink23]

Yes, you can just put it all down as one lump sum.
x

 

[x.x.kelly]

i.cant remember when.mines due i.started self employed in july :-\ how do you find out? x

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[Miss Pink23]

april 2011 - 2012 is due by paper entry oct 2012, or online by jan 2013 - so end of this month.

But you started in July, so you will do yours for april 2012-2013, so paper by oct this year, or online by end of jan next year

x

 

[x.x.kelly]

ohh okay thNkyou very much! x

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[Lolla]

Yes, you can just put it all down as one lump sum.
x

Brill, thanks I started getting stuff during the 12months prior to starting so will put all that through.

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