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Questions on Tax refunds for startup Capital?

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  • 20-04-2012 11:53am
    #1
    ivorystraws
    Registered Users Posts: 251 ✭✭


    Hi,

    I am currently investing/testing/researching the viability of a business idea to determine whether it has the potential to be successful or not.

    I have already invested a small sum of money, which is directly related to the business in purchasing software, services and to pay contractors. My question is in relation to this money spent:
    1. Can someone please clarify whether it's 2 years or 4 years that someone who has been attempting to start a business can claim all expenses/investments incurred (which are directly related to the business) back from the revenue (once the limited company is incorporated)?
    2. I'm assuming the reason the revenue provides these tax rebates is because they are viewed as directors loans to the business - correct?
    3. Can these expenses, which were directly related to this new business, only be claimed when the business is incorporated as a limited company as opposed to a partnership or sole sole trader?
    4. Are these expenses reimbursed in the form of a cheque from the revenue or credited directly to a business account?
    5. I have compiled a list of all expenses incurred and have all related receipts so just wondering the best way to proceed?


    Thanks for any helpful responses.
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