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Sam
Sam, Accountant
Category: UK Tax
Satisfied Customers: 6475
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Capital Gains, CIS ask for Sam Tax
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I started up a Bagpipe making company some four years ago,

Customer Question

I started up a Bagpipe making company some four years ago, but needed African Ebony to make them. The Ebony needs to be naturally dry with little moisture content.
I bought two shipments within three months and have been told that |I can not claim it against tAX BECAUSE i HAVEN'T YET MADE ANYTHING!
i WAS RECENTLY INFORMED THAT IS UNTRUE ...... ANY COMENT PLEASE
Submitted: 1 year ago.
Category: UK Tax
Expert:  Sam replied 1 year ago.
Hi
Thanks for your question - I am Sam and one of the UK tax experts here on Just Answer.
Can you expand what dates you bought this Ebony,and how much you spent what date you started trading and when you actually started to make money.
What stock you had on hand at the end of your first trading period (this I assume would merely be the balance of what you bought. less what you had used)
Please also advise whether a sole trader or limited company.
Thanks
Sam

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