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Posted Sat, 17 Dec 2022 21:01:24 GMT by leeco75
I am domicile in UK and complete a self assessment each year for my UK employment. I have also started my own company in Romania using my own taxed income. I would like to know if these start up costs are deductible for UK tax ( if so where to enter them) I understand once trading I would report any other income in the return in the sections for foreign income. However I would like the relief on this outlay if it’s allowed. Any help appreciated.
Posted Wed, 21 Dec 2022 11:15:35 GMT by HMRC Admin 32

You can claim the costs against the new trade and will show this as a self employment source. Any loss due to the start up cost would then be set against future profits.

Thank you.

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