Hi folks ,
I've been employed for the last 2 years and paying tax PAYE . However since July 2014 I have been unable to work due to ill health and signed off from by the doc for this whole period.
My total income for this 2014/15 year I expect will be £8200
however throughout the year I have been considering starting up my own business and buying the tools/machinery/buisness cards etc in anticipation of starting up.
I was thinking of starting up and registering as a sole trader as of the end of this month ( Jan 2015).
Would I be able to claim expenses on all of my machinery/tools etc this year(totalling about £2500 ) and if I did so, would I expect to get any form of tax rebate/return
Many thanks in advance.
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