Retraining staff - how much can I pay and for what ?

[brian1]

Hi,

I am a director of a leisure / property company that has rather a lot of money available.
Can my company sponsor me or pay for me to retrain into a completely different profession (such as an airline pilot)? Or does any training have to be specifically for my business (and how could I get around this - I.E diversification).

Thanks for your time.

Brian

[cranleys]

Brian

You company could do this - if not appearing to be for business purposes a P11D benefit will arise and you will need to pay tax on this. Of course it may be very attractive for you.

Always available to assist.

Colin Davison
colin.davison@cranleys.co.uk

Editor - Property Tax Secrets 2005

Cranleys Chartered Accountants & Property Accountants
01256-766655
07766-714000

Always seek good professional support before making any decisions - individual specific advice is needed due to the complexity of individual circumstances.