First Self Assessed Tax Return

jimmy2legs

Hi,

I am filing my first self assessed tax return and have a few questions if anyone out there can help?

Firstly i am a yoga instructor and travel to the same 5 studios every week and invoice per class.

I am wondering if i can count my training as an expense? It was incurred prior to me trading but was a necessary expense in order for me to trade.

Also can i include fuel, travel and subsistence as expenses or would the studios be viewed as my normal place of work?

Any help would be great!

Thanks

dbran

The initial cost of obtaining a certain skill or a qualification would not be deductable as a business expense. Subsequently maintaining that skill would be deductable. If it is in a recognised course in a recognised college you may be entitled to additional tax credits based on whether it is part time, full time etc

The cost of travel from home your place of work may not deductable and you place of work in this case would be the place where the service is delivered ie the studios. It will depend on how you structure the classes as travel from a temporary place of work to another would be deductable.

You should get an accountant to look at this properly.

dbran