Help - Childminder set up costs - Tax!

[CARDBOND]

Im a new c/minder, I've spent lots to set up my business, but my income is alot less than my expenses. I need to do my tax return, does anyone know if I should record my business as in a loss or should I spread my costs out over the next year or so (I bought some items before I was actually registered).

[Jellybean]

I think most childminders end up with a loss in the first year it just means that you will not have to pay any tax at all, just for the next year try to spread your costs over the 12 months. I do not think you can carry things over to the next year unless it is a single large purchase for examplr i bought a laptop and phoned the tax office and they said i could claim 50% of it the first year then 25% a year for the next 2 years.
You could also phone the tax office and they will be able to tell you what you can do

[LittleMissSunshine]

I made a loss in my first year too so dont worry about it I think they expect us to with the outlay of setting up to be honest xxx