Self-funded training off-tax: give your views
THERE'S a consultation underway by HMRC (the tax people) into tax reliefs for self-funded work-related training - an essential part of being a freelance journalist these days. We get these reliefs as "self-employed".
Under current rules, self-employed people can deduct the costs of training incurred "wholly and exclusively" for their business and where it maintains or updates existing skills - but not when it introduces new skills. In these times, though, acquiring new skills is necessary for us freelances.
An estimated half a million self-employed folks did self-fund some kind of work-related training in 2016, which would probably have included some of us freelances. A set of not-particularly-well-worded questions is at tinyurl.com/y7php9vh and you should answer them before 7 June.