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Are College Fees Tax Deductible?


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Lazy of me to ask on here rather than look it up but please does any one know if I can deduct my OU fees from my taxable income? Haven't asked for financial support but would like to be able to claim it off my income.

 

Cheers all,

 

Honey

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Well. If I was paying course fees for any of my staff members (or myself, come to that) then that would be a legitimate business expense and so that would reduce my profitability, and therefore the amount of tax payable by me personally at the end of the year.

 

So I'd say that it should be tax deductible - after all you need to maintain your CPD and improve your skills/knowledge in order to make yourself as marketable as possible. However I'm not a tax expert. So I'd say you really need to ask your accountant. Sorry. xD Or wait for a knowledgeable child minding colleague to come along who will probably know the answer! :o

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  • 1 month later...
Lazy of me to ask on here rather than look it up but please does any one know if I can deduct my OU fees from my taxable income? Haven't asked for financial support but would like to be able to claim it off my income.

 

Cheers all,

 

Honey

 

as a childminder, i have been todl that training fees are not tax deductible :o

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I've been registered for over 10 years and always put courses relevant to my business including OU costs (including travel to tutorials) through my books. It is a legitamate cost relating directly to CPD, any other business would be entitled to claim, so I cannot see why a childminder couldn't. Ring your local tax office for guidance if your still unsure.

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