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Accounting Journal
Accounting Journal
Training costs and the self-employed

Training costs and the self-employed

Asif Patel's avatar
Asif Patel
Jul 31, 2024
∙ Paid

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Accounting Journal
Accounting Journal
Training costs and the self-employed
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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…

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