Training Costs Deduction: Who Qualifies and What You Get

This scheme allows self-employed individuals to claim tax relief on expenses related to training that helps maintain or update your current professional skills.

👤Who it's for

This is specifically for people running a business as self-employed individuals.

🎁What you get

You can receive tax relief on the costs of training. This is designed to help you keep your professional skills up to date within your current field of work.

💰What it costs you

To qualify, you must be able to prove that the training is directly related to your existing business activities. You cannot claim for training that is intended to help you start a completely new career or learn a brand new trade.

⚠️The catch to know

The main thing to remember is the distinction between updating a skill and learning a new one. For example, if you are already a professional, training to refresh your knowledge is covered, but initial training to enter a brand new profession is not tax-deductible.

📝How to apply

• Keep all receipts and invoices for any training you pay for.
• Ensure the training is used to update your current professional skills.
• Keep a record of how the training relates to your existing business.
• Include these expenses when you complete your tax self-assessment.