Hello, I have some patent costs incurred over the last 6 years. I paid for these from my own personal account but I need to recognise them in a company which is dormant at the moment. I would like to start trading from this company as well and need to know how to structure to be most tax efficient. I also have another dormant company which i would like to use for a property business. I would like to know how to structure these two companies to be tax effecient.
The patent company is not trading yet, and will not likely to earn income from the patent for a while but I will be doing other trade through the company. I am aware that some of the patent costs will be capitalised as intangible assets but was wondering if some of the costs can also be categorised as a loss once the company is trading.
Please contact me if you have any expertise in the area of intangible assets and also in property tax.