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Claiming back training costs
emv
Posts: 343 Forumite
Hi
I recently read somewhere (I think a Business Link factsheet) that I can only claim back the costs of training oce I have started trading. Does this mean once I have started to earn money or once I have declared myself to have started training? I aim to start earning money in Sept/Oct but will incur about £800 of training costs before then. So can I/should I officially start training before then in order to set these costs off against tax?
On a slightly different note, can I legitimately open a business bank account before I start trading? Is there any real disadvantage to declaring myself trading ASAP, other than the fact that I'll have to submit my accounts & Tax return sooner and may be ineligible for advice from some people such as the Enterprise Agency?
Any help gratefully received!
Emmavix
I recently read somewhere (I think a Business Link factsheet) that I can only claim back the costs of training oce I have started trading. Does this mean once I have started to earn money or once I have declared myself to have started training? I aim to start earning money in Sept/Oct but will incur about £800 of training costs before then. So can I/should I officially start training before then in order to set these costs off against tax?
On a slightly different note, can I legitimately open a business bank account before I start trading? Is there any real disadvantage to declaring myself trading ASAP, other than the fact that I'll have to submit my accounts & Tax return sooner and may be ineligible for advice from some people such as the Enterprise Agency?
Any help gratefully received!
Emmavix
0
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