MBA costs for a Director

MBA costs for a Director

Didn't find your answer?

Last year I decided to improve my business knowledge, in order to be able to market myself as a freelance FD, and took an MBA at Southampton UNI. The revenue are trying to disallow the expense as they feel that becasue I am the only director I have the power to put myself through the course even if it was not for the benefit of the company, thus it is not wholly and exclusively for the business. they are also trying to argue that even if it was for the benefit of the company it is capital rather than revenue in nature as the company gained a recognised and valued business qualification which is a long term asset and therefore capital in nature.

Does anybody have any arguments that could be used against this.
Kevin Stansfield

Replies (1)

Please login or register to join the discussion.

avatar
By listerramjet
06th Apr 2006 12:36

i'm no expert
but their argument sounds dodgy. Applying it logically would lead to any company with a sole director having all of its costs disallowed. Whether a cost is allowable or not is surely not dependent on how many directors a company has?

Of course there may be a benefit in kind although it does not seem that they are arguing that?

Thanks (0)