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Topic Other Boards / Foo / Any accountants here?
- By zarah Date 08.03.13 20:56 UTC Edited 08.03.13 20:59 UTC
Hoping that someone might be able to help me with this as I am getting flummoxed!

Since the beginning of last month I have been setting up my own business (dog walking and pet home visits) and have paid out quite alot in start up expenses for various things. I am now just about ready to start advertising. I am filling in the HMRC form online and it asks when I started the business. I have not had any business yet as it were as my website isn't live and, as above, I haven't yet started advertising but presumably to be able to to put my start up expenses on the tax return form I need to date the start of the business back to the beginning of last month when I first started paying out for business items. Is this correct?

Will this then mean that I will get a tax return form next month? If it is the case that I will get the form next month then I would rather put the launch of the business (and the registering of it) on hold until mid April (chances are there will be nothing to put on there other than my outgoings!) but not if that means that I can't put my expenses on there...?

Any thoughts?
- By Lorripop [gb] Date 08.03.13 23:50 UTC
I think you put when you registered and started paying out for stuff. Not sure it will matter that nothing was coming in initially as this must be for most new companies. Don't think they would expect profit for some months!
Not sure if you would do a VAT return every 1/4, but you can then claim your vat back that you have paid for some items like stationary etc, printer & ink. Also do your mobile phone through the business as I think this is a tax free perk.
I am not an accountant but we have a small business and have lots of discussions with the accountant. I do VAT returns every 1/4 and now everyone is gong to have to monthly PAYE to HMRC, which I need to learn.

Good luck, hope you get lots of business, dog walkers round here are quite a few but seem to get plenty of work.
- By newyork [gb] Date 09.03.13 05:18 UTC

> Not sure if you would do a VAT return every 1/4, but you can then claim your vat back that you have paid for some items


You can only claim back VAT if you are over the VAT threshold and charge it on your products  and services. Not likely to be the case for a newly set up dog walker.
- By Daisy [gb] Date 09.03.13 09:25 UTC

> You can only claim back VAT if you are over the VAT threshold


Not true - anyone can register for VAT (as long as they sell goods that are VATable), but most small businesses prefer not to have the hassle. There are pros and cons, as your services are cheaper because you don't charge VAT, but you can't reclaim the VAT back on your purchases. If you buy in goods or sell to/from the EU, you need to register.
- By zarah Date 09.03.13 10:54 UTC
Thanks Lorripop. I am still not sure what to do. I would rather just launch the business next month so I would be starting after the end of this tax year in effect and not have to worry about the tax return until April 2014. I just don't know if I'll be able to put my expenses on for the last couple of months though if not registered as an actual business until after I spent out on those start up costs. VAT won't come into it for me. My brain is not wired for these kinds of things(!) but I think I'll be offsetting my costs for stationary, advertising, etc, rather than claiming anything back.
- By tatty-ead [gb] Date 09.03.13 11:21 UTC
http://cgi3.ebay.co.uk/ws/eBayISAPI.dll?ViewUserPage&userid=talkinpeace

The link is on ebay aimed at ebay businesses but it has lots of general tax and vat info - and its in 'plain' english not in officialese.  it will probably be worth a read through.
The writer knows what they are talking about and uses 'Counting the beans £1. Knowing which beans to count £99' as their signature :-)
- By zarah Date 09.03.13 11:36 UTC
Thanks - will take a look at that :)
Topic Other Boards / Foo / Any accountants here?

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