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For sole trader any revenue expenditure incurred in 7 years before a bsns commence to trade is treated as an exoense on the day that the bsns starts trading nd hence is sn allowable expense, what will be the situation in respect of pre trading capital expenditure, is it treated in the same way as pre tradng revenue expenditure?
Only allowable pre trading expenditure will be deductible – pre trading customer entertaining for example would not be allowable!
Pre trading capital expenditure will be available for capital allowances as if incurred in the first accounting period of trading – again only if it qualifies for capital allowances as plant and machinery.
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