Intangible asset training courses

Intangible asset training courses

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Where can I find information please on the  income tax treatment of training costs for the self employed  when they are capital expenditure.

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By Steve Kesby
04th Jan 2012 10:22

What income tax treatment?

It's expenditure enhancing the proprietor.  So if you sold the proprietor at a later date you could claim it as enhancement expenditure for CGT purposes, but for the fact that the proprietor is tangible moveable property with a deemed useful life of less than 50 years, and so exempt from CGT.

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By Helen Crowley
04th Jan 2012 10:19

HMRC Business Income Manual

Here is the link http://www.hmrc.gov.uk/manuals/bimmanual/BIM35660.htm 

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By edcoton
10th Feb 2014 14:35

Capital Allowances

Having ascertained that the training expenditure is capital, I have been unable to verify whether one can claim capital allowances on the grounds that the benefit of the training will deteriorate over the years, and if so could it be included in AIA?

 

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