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Post Info TOPIC: Claiming training costs
Douglas Stroud


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Claiming training costs
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Hi All

I am currently self studying ATT and funding all the costs myself, I was wondering if I could claim the training costs back as an expense to my business ?

HMRC quite clearly say that you can only claim tax relief on training costs if it updates expertise that you already have, training that gives you new expertise ,knowledge or skills is not allowable for tax relief.

The reason I am studying ATT is to learn in more detail about Tax because even though I have studied and passed other tax qualifications I still felt that they had only taught me the basics, and ATT followed by CTA is my ultimate goal.

So I am of the opinion that even though I have tax qualifications I feel  that the training I am doing now is actually giving me new expertise and not just updating my old qualifications.

I know I have probably answered my own question but just wanted others opinions on this and whether I could indeed claim some expenses back.

Cheers

 



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Doug

These are only my opinions of how I see things and therefore should not be taken as advice
Shamus


Forum Moderator & Expert

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Hi Doug,

different way of looking at this scenario.

if you are currently trading and your existing qualification requires that you complete CPD in order to keep your ability to trade then you are able to charge training to your company where such meets your CPD requirements.

ATT could be considered CPD for the likes of ACCA and AAT even though both of those already include tax elements... Think that you might easily beat your minimum CPD requirements with one module of that one alone.

kindest regards,

Shaun.








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Shaun

Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Douglas Stroud


Senior Member

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Posts: 119
Date:
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Hi Shaun

Thanks for the reply.

Although I deal with tax matters through my business and keeping up with tax legislation is a must, as you say doing just one module of ATT might count as going rather further than just your standard CPD so it would probably be hard work to justify the whole qualification as being just an update of what I already know.

Many thanks



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Doug

These are only my opinions of how I see things and therefore should not be taken as advice
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