Training expenses

by gjctech at 08:25 31/10/06 (Ask-Legal-Accounting)

In the recent thread, "Training whilst on holiday", Barry Roback wrote, "... If it could be argued that the course was necessary for current work (rather than to put itself in the position to take on new work), then OK." But is this invariably the case?

I can see a potential market for an emerging technology into which I want to branch. After a month or two "dabbling" it's clear that I'm going to need formal training before I can offer consultancy services. Unfortunately, the only training courses currently on offer are in USA, with a two-week, full-time, "boot camp" style course being the most appropriate. Now all expenses (travelling to and from airports, air fare, accommodation, and course fees) would be incurred wholly, necessarily, and exclusively for business purposes - but it would be to put my company in the position to take on new work rather than to serve existing contracts. I anticipate that my company would pay for everything (as opposed to me paying and claiming expenses). Would this be seen as benefit in kind? Would my company be able to offset the costs against tax? -- gjctech

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