Training costs and the self-employed
A sole trader or proprietor of an unincorporated business may incur training costs. The tax treatment of those costs depends on whether the costs are regarded as ‘revenue’ or ‘capital’ expenditure. HMRC have revised their guidance in this area, expanding the range of training for which a deduction is available.
Old rules
Previously, HMRC only treated trai…
Keep reading with a 7-day free trial
Subscribe to Accounting Journal to keep reading this post and get 7 days of free access to the full post archives.