BIM86042 | TMIA – Other Considerations: Pre-Trading Expenses

Under S57 ITTOIA 2005 an individual who incurs expenses for the purposes of a trade before they begin trading will be allowed to deduct these expenses in some cases. If an individual claims partial relief for the trading allowance they will not be allowed to deduct pre-trading expenses in computing their taxable profits.

More information on pre-trading expenses can be found in the Business Income Manual at BIM46350.