Where your limited company, rather than you personally, meet the cost of your training, the training exemption is very wide-ranging. Your limited company may pay for a wide variety of training costs without triggering any tax liability for the you. In fact the concept of ‘work-related training’ is drawn so widely that it can encompass almost any activity that is not purely recreational.
To ensure you qualify
- For any training courses or material that you require, ensure the contract/purchase order/purchase invoice contains your company name;
- Get your company to pay for the training directly from the business bank account
How not to qualify
More than likely, any claim you make for training will be disallowed in the following circumstances;
- You arrange for the training yourself, personally;
- You pay for the training from your personal bank account;
If these two conditions exist, in reality there is little point in making a claim for the training as a tax deductible expense, because in all likelihood it won’t be.