Limited company expenses and tax reliefs can be confusing for new business owners – namely, which costs are legitimately tax deductible. It\u2019s important to operate your business honestly and lawfully, but you don\u2019t want to pay more tax than you have to.<\/p>\n

As we\u2019ve explained, many company startup costs can be offset against your Corporation Tax bill, and you can reclaim VAT paid on certain startup expenses as well. But the cost of company formation itself is not one such expense. Instead, you\u2019ll need to pay for this personally and reimburse yourself through the company bank account.<\/p>\n

We hope that this post has been helpful and shed some light on this topic. However, we do recommend consulting an accountant or tax advisor for specialist advice and assistance with your business expenses and accounting needs.<\/p>\n

If you have any questions or need help setting up a company, please contact our company formation team or leave a comment below.<\/p>\n"},"excerpt":{"rendered":"

Most company startup costs are tax deductible, but the cost of company formation itself cannot be claimed against Corporation Tax. The fee for setting up a limited company is classed as a one-off capital expense, so you can\u2019t claim tax relief through your company on this particular cost. However, as a company director and shareholder,…<\/p>\n","protected":false},"author":10,"featured_media":9439,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false},"categories":[1239],"tags":[],"class_list":["post-9434","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tax-accounting-finance","category-1239","description-off"],"acf":[],"yoast_head":"\n