Certain training costs can be tax deductible but it really does depend on the type of training it is. A person is unable to claim for their training in order to qualify in the area they are trading in, however, if the training is for enhancing or refreshing purposes and directly relates to the businesses existing income then that would be allowed to be put through as an expense.
For example, an electrician would not be allowed to claim for his training in order to qualify as an electrician. However, if he and his employees participated in a course on health and safety for example, then this would be classed as an allowable expense as it relates directly to the business, its future and its existing income.
If you would like any further information on what training costs can be put through as an allowable expense then please do not hesitate to phone or email us, or alternatively, you can simply use the live chat link available.
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MAAT and ICPA accountant, with a passion for making accountancy and bookkeeping accessible. Other interests include cloud-based software development for web and mobile access, keeping fit, reading, and entrepreneurship.