Startup business costs

[Craig5707]

Hi guys

I have been slowly building towards launching a product by doing things like building a prototype, protecting IP, buying domain names etc.

I paid for these with my own personal account.

I am now registering a LTD company and want to get a business account and accounting software to get a bit more serious.

My question is, can these expenses, (which I have basically documented in excel and have kept receipts) be somehow be put on the accounting software/books as startup costs and therefore be tax deductable or have other benefits I should know about?

many thanks

 

[Scalloway]

You enter them as a loan from the director. The date of the transactions will be the date of incorporation.

 

[Mr D]

Having credited the directors loan account as Scalloway says, you later can draw the money out of the company without attracting personal tax liability.