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• # 122690
• Tue 09 Jan 2024 10:31 AM

Good Morning

Can I please have your thoughts and opinions on start-up costs for a business.  The business in question is a Hypnotherapist.  Costs such as training were incurred in the 18 months before the business was up and running.  The business is self-employment and not a limited company.

How far back can startup costs and training costs be included in the accounts please?

Thanks

Steve

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• # 122695
• Wed 17 Jan 2024 01:57 PM

Hi Steve

I've not checked this but if my memory serves me right then setup costs can be "claimed" for seven years prior, BUT this does not include training costs.  There definitely is clear guidance out there somewhere in HMRC-land - try looking up sole trader start up costs on gov.uk?

All the best,

Pot

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  Pot B.

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• # 122696
• Wed 17 Jan 2024 03:22 PM

PotBeautiful said:

“

Hi Steve

I've not checked this but if my memory serves me right then setup costs can be "claimed" for seven years prior, BUT this does not include training costs.  There definitely is clear guidance out there somewhere in HMRC-land - try looking up sole trader start up costs on gov.uk?

All the best,

Pot

Edited at 17 Jan 2024 01:57 PM GMT”

 Pot

Thanks for your reply.  I did check with the ICB technical helpline.  Only costs that can be classed as Capital Transactions can be backdated.  The example they gave was the purchase of caravans over a few years to start a caravan park.

Regards

Steve

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