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Reply to: Limited Company Sponsor MBA ??
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Previously on "Limited Company Sponsor MBA ??"
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Pretty crap they do not let you do this, it is not like you are pissing the money up a wall or that the system is open to abuse. Maintenance of a swimming pool is however something the government should be paying for.
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I don't know why it is allowed for big companies like BT, Oracle, Shell etc. They do sponsor their employees to the part-time/executive MBA.
Does that means since I am contractor,I should not trained myself in anything which is not directly related to my business. Is it not the fact that, if I am well trained in business administration or some other higher qualification, I will be able to do more business instead of doing the same old thing which I have been doing till now. :-(
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Originally posted by BrowneIssue View Post"Where attendance at a course is intended to give business proprietors new expertise, knowledge or skills, which they lack, it brings into existence an intangible asset that is of enduring benefit to the business. We take the view that the expenditure is therefore of a capital nature, and deduction is prohibited."
I wonder how many other countries in the world explicitly punish businesses for training their staff with a view to expanding the services?
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Originally posted by BrowneIssue View Post"Where attendance at a course is intended to give business proprietors new expertise, knowledge or skills, which they lack, it brings into existence an intangible asset that is of enduring benefit to the business. We take the view that the expenditure is therefore of a capital nature, and deduction is prohibited."
I wonder how many other countries in the world explicitly punish businesses for training their staff with a view to expanding the services?
Leave a comment:
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"Where attendance at a course is intended to give business proprietors new expertise, knowledge or skills, which they lack, it brings into existence an intangible asset that is of enduring benefit to the business. We take the view that the expenditure is therefore of a capital nature, and deduction is prohibited."
I wonder how many other countries in the world explicitly punish businesses for training their staff with a view to expanding the services?
Leave a comment:
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http://www.hmrc.gov.uk/manuals/bimmanual/BIM35660.htm
You should therefore allow proprietors a deduction for expenditure that merely updates existing expertise or knowledge but disallow any expenditure that provides new expertise or knowledge (particularly where it brings into existence a recognised qualification like an Master of Business Administration).
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Originally posted by Andy2 View PostSince we run a business , why its not allowed to get trained for business administartion ?
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Originally posted by Pickle2 View PostBut why does a company of one need leadership skills?
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Originally posted by Pickle2 View PostI looked into this a while ago, the answer is No. Hector is pretty explicit, even mentioning an MBA specifcally as an example of what's not allowed.
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Originally posted by Moscow Mule View PostOk, no MBA. But I'm going to do a Yachtmaster course as it will be good for my "leadership skills".
http://www.hmrc.gov.uk/manuals/eimanual/eim01210.htm
http://www.hmrc.gov.uk/manuals/eimanual/EIM01220.htm
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Originally posted by Pickle2 View PostI looked into this a while ago, the answer is No. Hector is pretty explicit, even mentioning an MBA specifcally as an example of what's not allowed.
http://www.hmrc.gov.uk/manuals/eimanual/eim01210.htm
http://www.hmrc.gov.uk/manuals/eimanual/EIM01220.htm
Where leadership and team skills are appropriate to the employee, participation in activities such as Outward Bound, Raleigh International, or Prince's Trust will qualify.
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I looked into this a while ago, the answer is No. Hector is pretty explicit, even mentioning an MBA specifcally as an example of what's not allowed.
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