Can I simply enter an expense in the next financial year because, for example, I have already made ‘too much loss’ this financial year? I have only just started and have to make all my purchases this year, which means I will make a lot of loss this year and hardly any next year. This year, I am not making much income because I am not selling much yet.
(sourdough bakery as a secondary occupation)
Normally, it does not matter much if you make a loss in your first year. If you have only just started at the end of the year, it is logical that you will do more investments than you will make a profit. Certainly as a secondary occupation, the tax authorities will not ask too many questions here.
You really should try it out for yourself. Even if you don’t have a company number yet, you can already go ahead.
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