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brightspark11

I did a part 'p' training course with new career skills last year. Now I am working as a sole trader and need to do a tax return. The course cost about £5k and I am hopeing to claim back the tax on it. I looked on the HMRC website and it is not very clear, I was wondering, has anyone else tried to claim back the cost on a tax return?

The way I see it 20% of 5K would come in very handy at the moment!
 
In a word no.

Bizzarely HMRC tax rules do not allow tax relief on expenditure for raising your qualifications/employment prospects. Stupid.

Once you have the qualifications you can offset "refresher" type costs against your tax bill.
 
Thanks for that. I agree it is stupid. The government keeps going on about supporting business, but when you use the last of your savings to start your own business what help do you actually get!
 
Thanks for that. I agree it is stupid. The government keeps going on about supporting business, but when you use the last of your savings to start your own business what help do you actually get!


Just make sure that you keep ALL of the receipts for your tools, insurance, scheme membership, stationary, advertising, van etc etc and then let an accountant do the rest!
 
agree with above, but as regards the van/car used for business, all you need to do is record mileage at the start and end of the financial year. then you get allowed approx. 40p/mile against tax. this covers all fuel, repairs, road tax, etc. saves saving all those fuel receipts which have gone completely blank after a few weeks, sitting on your dashboard.
 
Do a search for a local accountant and see if you can get a free meeting with them. And don;t leave this until after the end of the year!
 
I tried various courses with my accountant the other year but she wouldnt put them through so i guess the answer is no . She did however put lots of things through that i didnt think of like stationary , laundry etc
 
Good advice from above

I too thought that initial courses to start up wold be tax deductable to offset against your profits but after the course found out I couldnt
but a mate who was on the course with me set up LTD first then went on the course
and he claimed it as he was an employee of a limited company and the company had sent him on the course well thsi is what he told me but it was to late for me then as i was already on the course

so can you not claim any courses when sole trader
like addtional courses such as 2391,
 
I put mine through - I was already working and paying tax in that sector so I put it down as a business development cost. If you are changing career then I don't think you are allowed to off set costs of your course against earnings from an unrelated occupation. I'm not an accountant though so I could be wrong :)
 
Your scam membership fees are tax deductible as far as I know - as are "trade magazine" subscriptions and "entertainment" so get receipts for your hobby magazines & newspapers etc. & get receipts from the pub - you WERE entertaining a potential client weren't you? ;)

Clothing too - you needed that suit, shirt, tie & new shoes for business meetings didn't you? It was just fortunate that you had them to wear for that wedding you attended - and socks and underwear too can be construed as "workwear" - you DO wear socks & underpants when you go out to work don't you?

That carpet you bought for the child's bedroom was "really" for the spare room you use for your office wasn't it? Same for the paint & wallpaper etc .....

A percentage of what your lass spends on washing powder & cleaning materials too - you need to have your work wear cleaned and your office too. And of course you need a cleaner to do these tasks - show some payments to your lass for this.

Travelling expenses can be claimed too, so start collecting bus tickets. Sometimes it's not practical to use your car / van to attend business meetings is it?

When in doubt, claim for it. Your accountant can work out which box to tick for it. ;)

In my early days of business, my accountant was an ex-Inland Revenue bloke & by God was he sharp!! I hardly ever paid tax & often got rebates - the largest being £1,200.
 

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