In most cases, no. The Annual Investment Allowance (AIA) is designed for capital expenditure on assets used within your active business. Here's why pre-trading expenses usually don't qualify:
Timing: AIA is applied to assets purchased when your qualifying business activity is already running. Pre-trading expenses are considered incurred on the day your business officially starts.
Purpose: Pre-trading expenses often involve setup costs, not the purchase of depreciable assets that AIA is intended for.
Important Note: While you generally cannot claim AIA directly on pre-trading expenditure, these expenses might become eligible for other forms of tax relief.
It's strongly recommended to consult Accountants Chester for personalised advice. They can assess your specific pre-trading expenses and determine how they can be factored into your tax deductions.
Pre-Trade Expenses Accountants Chester