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Posted by Maria Elizabeth Pali, Oct 25 2010 7:29AM

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training - allowable tax expenses?

Hello there. I'm new to the association and finding my way around the forums and website, so apologies if the answer to this question is already on the website.
I have a question about training and expenses. I am currently working as a self employed massage therapist (holistic). I understand that our continuing professional development training is allowable as a tax expense. I am now training to be a Sports Massage Therapist. I believe that training costs are NOT allowable if you are training in a new area/vocation. Can anyone tell me therefore, if training in sports massage is allowable as a CPD tax expense, or am I considered to be training for a new profession?
many thanks
Maria
Barbara Lewis
Oct 25 2010 9:27AM
i would argue that this is developing your massage practice not a new professional qualification and therefore it is an allowable expense
a new profession might be podiatry or acountancy for instance
although going on a bookeepitng course could be tax deductable as it is part of the business

barb
Maria Elizabeth Pali
Oct 25 2010 11:40AM
Thankyou Barbara. That's what i weas hoping to hear!
Dawn Spragg
Oct 30 2010 1:42AM
I would defiantly put as a Taxable expense and argue the case should anyone question, as stated it is expanding your knowledge in your field, and a CPD to boot as required by your guild.
God bless
Dawn Spragg
Healing Hands SM4

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