Before you do anything prepare to keep a record of the
events leading to your start up.
From day one, start a record / diary of the events
leading to your first day of trading and maintain it
thereafter.
Keep every VAT receipt for the purchases that you make
during the setting up process and continue to do so
thereafter.
In the enthusiasm that generally goes with a business
start up, things can move very quickly. It is easy to
forget important dates that will become relevant at
a later stage.
Make sure any receipts that you receive have the supplier's
VAT registration number on them and are kept in chronological
order. This will make your accountant happy and save
you time and money in the long run.
There are many purchases that you will make during the
starting up process; chairs, stationary, etc. individually
they may seem minor, but it is good to keep a record
of them as the expenses will add up.
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