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Can I claim pre-trading expenses?

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You can claim anything that you would have been able to claim whilst you were trading, and examples of such expenses are accountancy fees, rent, rates or stationery, etc. (s. 61 CTA 2009) You cannot claim the cost of a company formation as this is deemed to be a capital expense rather than a revenue expense and a tax deduction cannot be claimed regardless of when it is incurred.

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