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TonyTax
TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15707
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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self employed dance teacher

Customer Question

My wife set up as a self employed dance teacher recently, she spent a lot of money training to get the necessary qualifications which I imagine should be fine to treat as a tax deductable expense, however, some of these costs relate to a prior tax year - can they also be deducted in the current year?

Submitted: 2 years ago.
Category: Tax
Expert:  TonyTax replied 2 years ago.

Hi.

I'm afraid that the costs are probably not tax deductible. Unless expenses are incurred wholly and exclusively for business purposes, they are not allowable expenses. The costs of acquiring a new skill are not tax deductible as they are not a cost related to the function of the business itself. Fees paid to update existing skills are deductible expenditure.

I know many people claim such expenditure and some get away with it, not that they necessarily know they should not be claiming but it is something the tax office looks out for.

Take a look here and here for more information on this topic.

I'm sorry this is not the answer you wanted to read. Let me know if you have any further questions.

Customer: replied 2 years ago.


Hi Tonytax, apologies for delay in reply.


 


Thanks for response above there was a second part to my question which I would be appreciate a response too, namely if you forget to include an expense in a tax year can you include it in the following years return?

Expert:  TonyTax replied 2 years ago.
If you forget to claim an expense, you have a year from the 31 January following the end of the tax year in which the expense was incurred to amend the tax return. You cannot rightly claim the expense in the next tax year but some people do and if the return is not the subject of an enquiry, then they get away with it.

If you miss the deadline for amending your return, you can make a claim for the missed expenses by writing to the tax office as you will read here.

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