Claiming Self-Development Costs Against Your Taxable Income


Louise Misiewicz

Tax Consultant

15th April 2013

Posted by Simon Misiewicz on 15th April 2013

Are you into Self-development?

Would you like to reduce your tax whilst learning?

Many business owners are developing their knowledge and expertise without claiming the costs against their tax. As a result they are paying for the self-development without taking advantage of the VAT & tax that they can claim back.

The cost of training your staff is tax deductible but this can carry a taxable Benefit In Kind (BIK) for your employees, unless certain conditions are met.

As long as the training course improves skills and knowledge to carry out their normal duties of work then there are no benefits in kind to pay.

If the training course provides a significant benefit to the employee but it is not used in the main course of business then HMRC will see this as a BIK that has to be paid.

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