UK Expenses from before incorporation

[BenWarner]

Can I put legitimate company expenses through the business that were dated from before the date of incorporation?

The expenses in question will be items such as: stationary, packaging, tools etc.

Is this also possible to do if expenses are paid via a personal account as there is no business account active as yet with their being no registered business.

Appreciate any help.

Thanks

 

[Becky]

Short answer; yes.

You can claim any expenses that were incurred wholly, exclusively, and necessarily in the course of setting up the business, in the period up to 7 years before the date of incorporation. They are treated as having been incurred on day 1. For more details check out section 61 Corporation Taxes Act (CTA) 2009:

http://www.legislation.gov.uk/ukpga/2009/4/part/3/chapter/5/crossheading/pretrading-expenses