Pre-incorporation expenses
February 15th, 2010
If you have set up a new business and company, any expenses incurred before the company was set up can be charged to the company and treated by the company as deductible for tax purposes. The expenses must be wholly and necessarily for the business and can be from several years before you set up the company. You must have receipts to support them.
You will not be liable for personal income tax on reimbursement of these expenses by the company.
The content of this article is for general information only. It should not be relied on and action which could affect your business or personal circumstances should not be taken without appropriate professional advice.
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