Are training courses tax deductible if you're self-employed?
Continual learning and development are essential features of self-employment. The prospect of new challenges every day is a big driver for many people to start working for themselves. But are training courses tax deductible if you’re self-employed?
More structured guidance or qualifications can be a big help in increasing client rates, scaling up your business, or safeguarding your future. If you’re contracting, consulting, or freelancing, the main concerns about any course or qualification will be the cost, time commitment, and potential benefit to your career. But in many cases, you’ll be able to claim allowable business expenses to offset investing in your skills and knowledge.
Before you rush to sign up for new training, not every course will be automatically deductible. So, it’s important to understand what is eligible for tax relief, before you commit to potentially expensive education.
