Allowable expenses

Hi

I'm an ICAEW member and I work in industry in a finance role.

My new year resolution is to keep myself more up to date with what is going on in the world of finance to improve my knowledge and strengthen my CPD return. The two items I am considering are subscriptions to The Economist and/or The Financial Times.

I would appreciate your view on whether these would meet the wholly, exclusive and necessarily test or not applied by HMRC to offset the expense against my employment income on my tax return. I'm obliged to be an ACA for my job and my company pay my membership - therefore I need to do CPD. Does it come down to whether reading either/both of these consistutes appropriate CPD?

In answer to what I think would be the obvious way out, I don't think I can get the company to subcribe to either, given the current financial climate! 

Thanks in advance for any comments.