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Where Taxpayers and Advisers Meet

Can business start-up costs be used to reduce tax on pension?

wrongsideof40
Posts: 4
Joined: Tue Jan 10, 2017 11:17 pm

Can business start-up costs be used to reduce tax on pension?

Postby wrongsideof40 » Fri Oct 12, 2018 12:34 pm

Hi folks - As subject: I run a little business (mostly to keep me out of mischief, since leaving work). In this first year I've spent some thousands of pounds on hardware, promotion etc, so the business hasn't even broken even.
Meanwhile, I've started to draw my works pension, which I'm paying tax on, as it exceeds the tax-free allowance.

My question is...Can I reduce the tax burden on my pension with my business expenses?

Thanks - Martin

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