company sponsership for PG Diploma

[SueEllen]

Go for it, I say.

He better change accountants then as the accountant has disallowed it.

Some of the people who have replied negatively to posts on what courses you can get through have been the resident accountants.

The main problem in this case is that kknandoo doesn't have a client in the Banking sector or in a related field, or have qualifications that are related.

If he had it would be easy to just tell the accountant something like -
"I'm doing x and y at z clientco which means a financial qualification would be beneficial. I'm putting it through the company books. "

And the accountant wouldn't argue.

[Wanderer]

Some of the people who have replied negatively to posts on what courses you can get through have been the resident accountants.
The main problem in this case is that kknandoo doesn't have a client in the Banking sector or in a related field, or have qualifications that are related.

Yes, I was surprised at how negative the responses were because the Appendix 9 in HMRC's booklet 480 appear fairly liberal to me. Specifically it says "any such office or employment to which the employee has or can realistically expect to have a serious opportunity of being appointed."

If someone works in IT and wants to break into the financial sector (presumably still working in IT) then surely doing a banking diploma is going to help?

Maybe I'm not really understanding the nature of the OP's business vs the diploma he's considering or as you say, perhaps the OP didn't pitch it quite right to the accountant. But then again, the accountant can only make recommendations and if you want to put it though the books then you can go right ahead though you would have to justify it if it was ever questioned, of course.

[northernladuk]

Going back to my original question though. Would this diploma really help getting work in the banking IT sector? Many contractors have no problems getting work. I don't know what the diploma involves but if it goes through all the mechanics of global banking and you are going for a coding job I think the OP needs to consider whether this is really relavant. You don't need to know everything about global banking to write code.

Looking at the information agents have sent my clients in the past all my qualifications were taken off and only my skills were submitted so would not have helpded in my situation.

[SueEllen]

Yes, I was surprised at how negative the responses were because the Appendix 9 in HMRC's booklet 480 appear fairly liberal to me. Specifically it says "any such office or employment to which the employee has or can realistically expect to have a serious opportunity of being appointed."

While the accountants all base things on their own interpretation with this they are all in agreement, which means it should be taken seriously.

I've managed to put some of the courses I've done for interest through my company's books because I've had clients at the time where the soft skills were applicable. However there are courses I've done which I could have later put through the books but at the time I hadn't done work in that area so couldn't. I also didn't have the basic level skills to argue that I can get more work if I do the courses.

Plus it seems that it's frown upon by the accountants to put an entire degree or diploma through the books in one go, but it seems fine to put modules through which will give you a degree or diploma.

[kknandoo]

A few people have posted quite negative comments about training in the past but reading HMRC's guidance, the definitions of what is allowable seem to be quite broad. It seems to me that the only thing you won't get away with is something that appears to be more of a jolly than a training course though even then you could argue that you are doing it to develop confidence and leadership skills.

Have a read of Appendix 9 of HMRC's guidance on expenses.

Work-related training is training for an employee’s current employment or a 'related employment'.
It is defined as any training course or other activity which is designed to impart, instil, improve or reinforce any knowledge, skills, or personal qualities which are, or are likely to prove, useful to the employee when performing his or her duties

Qualifying training is training which is undertaken with an employment or prospective employment in view.

A related employment is:
• any office or employment held with the employer or which is to be held with the employer or a connected person
• any such office or employment to which the employee has or can realistically expect to have a serious opportunity of being appointed.

My reading of the rules are than you can claim for travel and subsistence during the training too.

Go for it, I say.

Hi guys!!

Thanks for intersting comments and this turning out to be a good discussion.

My intention is, I have been working in Data Warehousing /BI arena for a quite a while now and I did have brief stint with Virgin Money for an year, though it was couple of years back.

I want to gain professional degree ( rather than just reading the books, that does mean that I won't be reading any books to gain the PG Dip) in the financial sector as I think that will improve my chance of getting in to Investment Banking . I have applied for this course with CEFIMS (Postgraduate Diploma in Banking), which they have formally accepted.

Since doing this course would improve my chances of gaining a contract thus better revenue for the Ltd Co., I am thinking I can put it through the company books, though my Accountant is refusing.

May be time to look for another one.

As always, many thanks for the comments.

--nandoo

[northernladuk]

Isnt't it funny when posters come on with a question. Get many responses and then just pick on the one you wanted to hear.

After looking at the course profile there is no way in hell that that is going to help you in your chosen career. It may give you an appreciation of what your client does but it doesn't help you technology career. As a contractor you work across multiple sectors where ever you are needed.

Expenses apart I can't even understand why you are going to spend 5k to get into banking? just do a stint at Barclays at Radbroke. That will set you up just as well.

[kknandoo]

hmm!! I pick the one with a positive response.

Regarding the course, my long term plan is to go for MSc / MBA in banking. And regarding the contract, most of the job ads for fin. sector come with tag "financial exp. is necessary". My thinking is having a professional degree might give an edge.

[Spacecadet]

I'm doing a Masters at the moment and sticking that through the company
I don't see anything wrong with it, the course is in a subject which I've been contracting in for a few years and hope to continue to do so for a few more at least.

Even though I'm only 6 months into a 2 year part time course I've been able to up my rates to reflect the increase in expertise.

[escapeUK]

Have a read of Appendix 9 of HMRC's guidance on expenses.

Work-related training is training for an employee’s current employment or a 'related employment'.
It is defined as any training course or other activity which is designed to impart, instil, improve or reinforce any knowledge, skills, or personal qualities which are, or are likely to prove, useful to the employee when performing his or her duties
.

Lets be clear, your current employment is your own company, not your client. So if your own company (ie you) decides to branch into flower arranging (as a silly example) then a course on such would be in line with the guidance.

[SueEllen]

I'm doing a Masters at the moment and sticking that through the company
I don't see anything wrong with it, the course is in a subject which I've been contracting in for a few years and hope to continue to do so for a few more at least.

Even though I'm only 6 months into a 2 year part time course I've been able to up my rates to reflect the increase in expertise.

Fair enough.

However you have experience in the subject you are studying in.