Professional fees

It depends on what the professional fee was for and what tax you are dealing with - income tax, corporation tax or CGT - look at the notes for adjustment of trading income and the calculation of a chargeable gain

Many thanks for your response. I was thinking in a scenario whereby students like us have to pay themselves for annual ACCA subscription and an exam fee, including the study materials. I have looked onto the study text and also onto the HRMC website, and yes the annual fees are allowable, but I am not certain about the exam fee. Are the exam fees and associated costs allowable for deduction in individual income tax computation, if paid by a student? I think this could be a very interesting exam question:) many thanks in advance

Sadly exam entry fees are not allowable expenses against employment income when incurred by the individual