Tax query

[keith915]

Back in February I registered as a sole trader. Bought myself a van back in march but haven't had work up until now. As I didn't earn anything in the tax year to April, will the van purchase still be tax deductible?

Still learning this whole sole trader/tax rules, think it could take a while to grasp. Does anyone have suggestions for books to read up on?

Regards, Keith.

 

[acat]

Business expenses are business expenses no matter what, the norm is a loss in the first year, break even second year profits third year and you pay tax on profits


Hope that helps


Chris