working as a sole trader

[floatindolphin]

Hi,

I'm about to go freelance and was wondering if someone would know the answers to a few questions regarding claimable expenses...

I'm paye at the moment, can I claim some things against my tax that I buy in the next few weeks?

i.e. setting up ready for freelance in mid May

Say I spent 300£ on Monitors, would 300£ come off my tax bill next year, or is it a %?

Is there a maximum amount of expenses that can be put in?

i.e. say I had to pay 4000 tax but had expenses of 3800, would I only pay 200 to HMRC?

I'll be speaking to an accountant at some point but just wanted to get some answers 1st


Thanks