Hello All
Training instructor (sole trader) purchased franchise and was also required to undergo training costs. These costs have been treated as capital in nature.
The franchise is now being sold - am I right in thinking that both the franchise fee and TRAINING COSTS are treated as the "cost of investment" for capital gains tax purpose?
thank you
madge
Replies (1)
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Training
I don't thnk that you can treat the training costs as part of the base cost for CGT because he can't transfer the knowledge to a buyer. He can transfer the franchise.
It is sadly quite likely that there will never be any tax relief for the training costs.