Hi all. I hope you can help.
I complete a self-assessment form every year and pay a small amount of
income tax as a result.
However, I am just in the process of starting a small limited company,
(it is in a different type of business altogether and I am the only
director). But I will be using my own money to fund the new company
for the first year or two and for that period, (at least), I will not
pay myself a salary and it will not make any profit.
Can I claim my personal investment to the company against tax on my
self-assessment form? I don't regard it as a loan to the company as it
will not be paid back.
- posted 8 years ago