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bigduckontax
bigduckontax, Accountant
Category: Tax
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Experience:  FCCA FCMA CGMA ACIS
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I am considering setting up my own business but need the

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Hi, I am considering setting up my own business but need the training to be able to do it. It's doing Domestic Electric Installations and EV Home Installs - costs about £3500. I want to know that after if I set up as a Limited Company, can I claim this training back as an expense?
JA: Have you talked to a tax professional about this?
Customer: I rang an accountant but they're all busy given it's January, so I'm trying to find out other ways.
JA: Anything else you want the Accountant to know before I connect you?
Customer: No, that's OK.
Customer: replied 6 months ago.
Also, if I can claim it and an expense, does my limited company need to be trading before I take the training and does the invoice for the training need to be in the company's name?

Hello, I am one of the experts on Juist Answer and pleased to be able to help you with your question.

Training costs are only allowable to enhance existing skills, not acquiring new ones, sorry.

Customer: replied 6 months ago.
Even for a Director of a Limited Company? This is where it became a grey area for me, as I'd found out that as a self-employed, NON ltd business training was for only enhancing,m but it could be different for the Director of a Limited company? Thanks.

But not a grey area for HMRC. It is the individual who is receiving the training not the company.

bigduckontax and other Tax Specialists are ready to help you
Customer: replied 6 months ago.
OK thanks.

Delighted to have been of assistance.

Thank you for your support.