Advice Please...

[mkelectronics]

The business i own is one that i bought off someone else on my credit card about 3 or 4 months before i officially started trading.

Is it possible that this can be classed as a 'business expense' even though i started trading so long after the payment?

Also, to open up the business account i have with abbey, i had to pay £50 (or rather my girlfriend did!) to open the account.
Can this be relcaimed too, and if so, how?

I have other questions too, but best to start a new thread for those when i have time.

thanks for the help.

[Scott-CopyandDesign]

I would of thought the purchase of the Business would be classed as Capital, but I'm not anywhere near sure of that.

[Kent Accountant]

Not sure exactly what you mean. Do you mean you formed a limited company and paid a company formation agent on your credit card or was it an existing business which was sold to you and you paid for the stock goodwill etc on your credit card?

The loan from your girl friend to open the account is a loan and not tax deductible.