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NickKaro
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To add to the above helpful information and to clarify a mistake that some new business owners make – the costs are deductible to the business, not your personal income, therefore if there is no other income in the company at the time, the expenses create a loss to be utilised against future profits of the company.

A similar situation exists in most cases if you run the business as a sole trader (google – non commercial loss provisions or speak to your accountant).

Regards
Nick