• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

Limited Company Sponsor MBA ??

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    Limited Company Sponsor MBA ??

    Hi Forumites,

    This is my first message in this forum.
    I am working as a contractor in London and running my own limited company with 100% shares. I am planning to do Executive MBA/Part time MBA from a college in London.

    My question is, Since this part time MBA would be expensive can my limited company sponsor my MBA or atlast half the money?

    Would appreciate views of other forumites.

    Thanks in advance.

    #2
    Originally posted by chetanojha View Post
    Hi Forumites,

    This is my first message in this forum.
    I am working as a contractor in London and running my own limited company with 100% shares. I am planning to do Executive MBA/Part time MBA from a college in London.

    My question is, Since this part time MBA would be expensive can my limited company sponsor my MBA or atlast half the money?

    Would appreciate views of other forumites.

    Thanks in advance.
    Is the MBA directly related to your current client requirements? If not, it is unlikely that you will be entitled to claim a penny for the course as it would be seen as a Benefit in Kind. You will need to speak to your Accountant to confirm.
    If your company is the best place to work in, for a mere £500 p/d, you can advertise here.

    Comment


      #3
      Originally posted by pmeswani View Post
      Is the MBA directly related to your current client requirements?
      Can somebody point me to the HMRC ruling that says

      "All wholly, exclusively & necessarily in the performance of my duties as an employee of the company"

      equates directly to

      "you can only claim this if it's relevant to your companies current engagements"?

      Surely training of staff is a legitimate business cost?
      ‎"See, you think I give a tulip. Wrong. In fact, while you talk, I'm thinking; How can I give less of a tulip? That's why I look interested."

      Comment


        #4
        Originally posted by Moscow Mule View Post
        Can somebody point me to the HMRC ruling that says

        "All wholly, exclusively & necessarily in the performance of my duties as an employee of the company"

        equates directly to

        "you can only claim this if it's relevant to your companies current engagements"?

        Surely training of staff is a legitimate business cost?

        I wouldn't have thought an MBA would be regarded as a neccessity. I am happy to be corrected though
        Every Saint has a past, Every Sinner a future"


        Originally Posted by Pogle
        I wasnt really into men at the time - IYKWIM

        HTH

        Comment


          #5
          I looked into this a while ago, the answer is No. Hector is pretty explicit, even mentioning an MBA specifcally as an example of what's not allowed.
          The Mods stole my post count!

          Comment


            #6
            Originally posted by Pickle2 View Post
            I looked into this a while ago, the answer is No. Hector is pretty explicit, even mentioning an MBA specifcally as an example of what's not allowed.
            Ok, no MBA. But I'm going to do a Yachtmaster course as it will be good for my "leadership skills".

            http://www.hmrc.gov.uk/manuals/eimanual/eim01210.htm

            http://www.hmrc.gov.uk/manuals/eimanual/EIM01220.htm

            Where leadership and team skills are appropriate to the employee, participation in activities such as Outward Bound, Raleigh International, or Prince's Trust will qualify.
            ‎"See, you think I give a tulip. Wrong. In fact, while you talk, I'm thinking; How can I give less of a tulip? That's why I look interested."

            Comment


              #7
              Originally posted by Moscow Mule View Post
              Ok, no MBA. But I'm going to do a Yachtmaster course as it will be good for my "leadership skills".

              http://www.hmrc.gov.uk/manuals/eimanual/eim01210.htm

              http://www.hmrc.gov.uk/manuals/eimanual/EIM01220.htm
              Outward bound and their ilk are a great laugh
              Every Saint has a past, Every Sinner a future"


              Originally Posted by Pogle
              I wasnt really into men at the time - IYKWIM

              HTH

              Comment


                #8
                Originally posted by Moscow Mule View Post
                Ok, no MBA. But I'm going to do a Yachtmaster course as it will be good for my "leadership skills".
                But why does a company of one need leadership skills?
                The Mods stole my post count!

                Comment


                  #9
                  Originally posted by Pickle2 View Post
                  I looked into this a while ago, the answer is No. Hector is pretty explicit, even mentioning an MBA specifcally as an example of what's not allowed.
                  Since we run a business , why its not allowed to get trained for business administartion ?

                  Comment


                    #10
                    Originally posted by Pickle2 View Post
                    But why does a company of one need leadership skills?
                    I often do jobs where I'm the tech lead on projects. Seems a perfect fit to me...
                    ‎"See, you think I give a tulip. Wrong. In fact, while you talk, I'm thinking; How can I give less of a tulip? That's why I look interested."

                    Comment

                    Working...
                    X