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  1. #11

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    Default HMRC guidance

    HMRC make a special mention of not allowing claims for proprietors where it brings into place a recognised qualification such as a masters.

    Please see last paragraph of link: https://www.gov.uk/hmrc-internal-man...anual/bim35660

  2. #12

    More time posting than coding


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    Quote Originally Posted by Kenny@MyAccountantFriend View Post
    HMRC make a special mention of not allowing claims for proprietors where it brings into place a recognised qualification such as a masters.

    Please see last paragraph of link: https://www.gov.uk/hmrc-internal-man...anual/bim35660
    Thanks for the information. My accountant tells me if it an allowable expense, as it complement my current Ltd Co services. Seems like I need to research this further.

  3. #13
    eek
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    Quote Originally Posted by Kenny@MyAccountantFriend View Post
    HMRC make a special mention of not allowing claims for proprietors where it brings into place a recognised qualification such as a masters.

    Please see last paragraph of link: https://www.gov.uk/hmrc-internal-man...anual/bim35660
    That references an MBA - the OP is going for an MSc.... I suspect it would be a far more arguable case than a generic MBA.....
    merely at clientco for the entertainment

  4. #14

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    Quote Originally Posted by eek View Post
    That references an MBA - the OP is going for an MSc.... I suspect it would be a far more arguable case than a generic MBA.....
    BIM35660 is based on a English Tutor undergoing a Diploma in Law claiming for examination re-sit fees. Thus re-training into a different field and claiming the expense is obviously a no permissible. (there goes that 2 week course on Bar management in the Bahamas )

    If I did this Msc it will complement my services after undergoing a 2 year training course. (fingers crossed) (letters after my name are just a bonus). Shame if I could not undertake this course with funding via Ltd Co as lack of expertise in this area of science in the UK) (student loan is not an option for me).

  5. #15

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    Quote Originally Posted by diesel View Post
    BIM35660 is based on a English Tutor undergoing a Diploma in Law claiming for examination re-sit fees. Thus re-training into a different field and claiming the expense is obviously a no permissible. (there goes that 2 week course on Bar management in the Bahamas )

    If I did this Msc it will complement my services after undergoing a 2 year training course. (fingers crossed) (letters after my name are just a bonus). Shame if I could not undertake this course with funding via Ltd Co as lack of expertise in this area of science in the UK) (student loan is not an option for me).
    But your LTD can fund it no?
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  6. #16

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    Quote Originally Posted by northernladuk View Post
    But your LTD can fund it no?
    I meant if I cannot expense the fees and costs via my Ltd Company, I could not afford to pay for it myself in full (student loan is least preferred option).

  7. #17

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    Have a contract with your company that by paying for your studies, you agree to work for the company as long as they want and that you will not seek salary increments or overtime for the next few years or so. After all its a different entity and you are an employee. It might be treated as a BIK which may result in a bit of tax increase.

  8. #18

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    Quote Originally Posted by Brummie View Post
    Have a contract with your company that by paying for your studies, you agree to work for the company as long as they want and that you will not seek salary increments or overtime for the next few years or so. After all its a different entity and you are an employee. It might be treated as a BIK which may result in a bit of tax increase.
    You sure about that?
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    Quote Originally Posted by northernladuk View Post
    You sure about that?
    When one is operating through their limited company, aren't they employee of their company (in addition to being a Director as well)?

  10. #20

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    Quote Originally Posted by Brummie View Post
    When one is operating through their limited company, aren't they employee of their company (in addition to being a Director as well)?
    What is the notice period stated in your contract of employment? Are you paying yourself the national minimum wage?

    http://www.contractoruk.com/news/00326.html

    Very old article though to be fair.
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