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Self employed student needs advice!
trance
Posts: 40 Forumite
in Cutting tax
Hi all
I am self employed part time earning less than £4000 in a sales capacity. I am registered with the IR as self employed.
I am however, having a change of direction in my career, and am now studying with the Open University for a degree - which is costing me about £1000 a year, for the next 3 years.
The degree I am getting will be used in my new career, and I will remain self employed.
My question - can I put the education/any other training costs through my business as a sole trader? I can legitimatley claim that the degree will help my current business, as well as my future business.
Thanks in advance for your thoughts!
I am self employed part time earning less than £4000 in a sales capacity. I am registered with the IR as self employed.
I am however, having a change of direction in my career, and am now studying with the Open University for a degree - which is costing me about £1000 a year, for the next 3 years.
The degree I am getting will be used in my new career, and I will remain self employed.
My question - can I put the education/any other training costs through my business as a sole trader? I can legitimatley claim that the degree will help my current business, as well as my future business.
Thanks in advance for your thoughts!
0
Comments
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Unfortunately initial training costs cannot e claimed as an expense. However once you have completed the training and have the qualifications, any follow up training which is needed to keep the qualification yu have is classes as an expense.0
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what a shame!
Can any bright spark think of a way around this?0
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