Question:
Can I offset the costs of a property mentor (employed solely to assist in my education) against the rental income from my first years of a property business?
Arthur Weller replies:
See hmrc.gov.uk/manuals/bimmanual/BIM35660.htm where it is explained that if someone previously knew how to run a particular business, and goes on a training course simply to update their existing knowledge - then that is allowable revenue expense. However if the training course is to acquire a new skill or expertise - then that is capital expenditure.
