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  • Calling accountants/tax experts
  • mikey74
    Free Member

    If you are working full-time and embark on part-time education, alongside your full-time job, can you offset any of the education costs against tax? I’m thinking primarily tuition fees, equipment, field trip costs etc.

    I’d be surprised if it was possible, but I thought I’d ask the question.

    craigxxl
    Free Member

    Simply answer no.

    If you were performing a trade as a sole trader or self employed and undertake training to increase your turnover/profits then it’s an allowable business expense.
    As an employee it would be your employer flaming the costs against their profits. If it’s work related have you spoken to your employer.

    mikey74
    Free Member

    Unfortunately, it’s not work related.

    Thanks for the info. It’s as I suspected, but I thought I’d ask.

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    scotroutes
    Full Member

    Have you looked into the Individual Learning Account?

    mikey74
    Free Member

    I just have, following your comment, and I don’t qualify; not even close :mrgreen:

    deepreddave
    Free Member

    craigxxl – Member
    Simply answer no.

    If you were performing a trade as a sole trader or self employed and undertake training to increase your turnover/profits then it’s an allowable business expense.
    I think renewing/updating existing training would be allowable against SE profits but acquisition of new knowledge is more likely to be a capital expense as it’s not incurred wholly and exclusively in the performance of the trade.

    jambalaya
    Free Member

    @mikey your employer can count it as a business expense. Can you get them to pay, you could even take a temporary pay cut and it could still be worth it ? You save tax and they save NI and can offset the cost. Not sure if this works but worth a try ?

Viewing 7 posts - 1 through 7 (of 7 total)

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