You can't claim expenses ... so don't expect a windfall payout anytime soon from anywhere!

All you can do is offset necessary expenditure against earnings. Since you have made no earnings yet, then you have nothing to offset against. (so no point even discussing what expenditure you may or may not have)

Get an accountant who may be able to magic up some earnings that can then be used to offset the accountant's fee...

That's funny because I called business link and HMRC and they both say that I can claim back my expenses such as stationery, web design etc... just didnt tell me how... I think you may be misadvised there seeing as the government you claim from has said the opposite to you.

I am a new business but I also work part-time. I’m no accountant but I can tell you what I did. My own new business made a loss, the loss was made up from expenses such as purchasing equipment/software etc. This loss was offset against the earnings I made in my part-time job which basically meant I had x amount of my earnings I’d paid tax on which, because of the losses incurred in my own business, meant I was due a refund of the tax paid on this x amount. I got this refund within two weeks of submitting my tax return paid straight into my bank account. If you’re a new business and have made a loss but have no other earnings (part-time jobs and so on) then I believe you can offset these losses against future or past earnings... but don’t quote me on that. If in doubt, get an accountant. A good one will pay for themselves.

Free guide to tax and expenses is available in the Get More section of the site at http://www.b2businesshub.com/benefit/save-taxes-employ-your-children

You will also find a free guide to the legal aspects of working from home (also in the Get More section) which also provides some useful pointers. Hope you find them useful.

Definitely get some advice. The ability to offset losses against your current income will only be allowed if you are a self employed or in a partnership. The UK tax system is rather odd, in that if you have incorporated a company, the losses belong to that company and not you. Of course there are loads of loopholes, exceptions etc. Work on selling more, then get a decent, small accountant to help you out. www.smartappz.co.uk

Hi James. You should definitely get qualified assistance but please note that a qualified bookkeeper can help you to keep track of your business finances and also complete your self assessment tax return. A freelance qualified bookkeeper can provide assistance on a weekly/monthly/quarterly/annual basis but you get the best of the arrangement by using them regularly through out the year so you can receive up to date information abour your business progress and plan for the future. Many businesses assume they have to use an accountant and so only get assistance once a year in time for their tax return. Freelance bookkeepers are business' best kept secret but are a great way of having your own "accounts department" even though you only need someone for a few hours a month. Have a look at www.icb.org.uk, the Institute of Certified Bookkeepers, where you can post a vacancy or an enquiry and see what a qualified bookkeeper can do for you and save money on your accountancy bills too.