Can I claim as an expense this year, fees paid for training that wont start til next?

craic_2

I have a small sole trader business. I am going to go on a training course that will directly increase my earnings. I have the option of paying for this course before the 1st April. The training course will not take place until June-July.

Say it cost £500, and my profit this year is £5,000
If I pay for the course now, will I be able to claim it as an expense this year, and deduct it from this years proift so that I am only taxable on £4,500?

Or would that be wrong and I have to claim it against next years future earnings, even though the money is paid in this tax year?

I'm really new to this and confused, but if I got an accountant it would zero out all my profit because I do not make even the £5,000 in my example
Please help me if you are able.

Many Thanks in advance.

bengalknights

If you pay out now you can deduct it now.

craic_2

Thank you for your answer. Might as well pay now then.

Thanks for your help