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Training costs: how does that actually work?

HC
2023-06-21

Question

Hello everyone,

I want to take a course costing around €2,000 in this year (I haven’t decided yet whether I’m going to opt for VAT exemption, so let’s leave the vAT issue aside for now). I don’t have a CBE number yet because I don’t have a business yet; before I start the business, I need to take the course anyway. Moreover, I can’t guarantee that I will have any customers in this year, so there is no certainty of profit/turnover. Given the cost of the training, I have the next question: Can I contribute that €2,000 (as an expense?) and write it off after I have completed my training? Can this be spread over several years? For example, I start the training tomorrow, paid the €2,000 and start my business in 2024; can I write off the training I took in 2023 from 2024 onwards? Are there certain conditions (duration) attached to here?

Thank you in advance!

Hello!

Unfortunately, I don't think this is possible. Costs incurred prior to starting your business can only be deducted in the same year. This means that you can only claim this cost in the year 2023. In addition, it is important that the company details are stated on the invoice you received on. As you do not yet have a CBE number, you cannot have these details add yet.One possible solution would be to start your business after completing your training and then have an invoice drawn up with your new CBE details (albeit in the year 2023).

In addition, depreciation from this amount will not be possible, as only equipment can be depreciated.

Good luck!

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You really should try it out for yourself. Even if you don’t have a company number yet, you can already go ahead.

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