Can I claim for training and development expenses in my business?

This can be quite a complex area so we would recommend contacting us, or your existing accountant for full information on your circumstances.

In summary however:

Sole Traders

if the expenditure is to extend existing knowledge or skills in order to enable the business to expand into other areas, this would not be tax deductible as a business expense. If the course or training is to update existing professional knowledge or skills, this would be allowable as a tax deductible business expense.

Limited Companies

Training is a tax-deductible expense if it is wholly and exclusively for the business. The rules are similar to those for sole traders: if you are improving the skills and/or knowledge you already apply in your work, this is allowable for Corporation Tax purposes. Courses that offer new skills and knowledge (for example a MBA, degree or diploma) are not allowable for Corporation Tax. If you are paying for training for your employees, you also need to identify whether there is an employee benefit to declare. You can find out the requirements on the HMRC website here.