- This topic has 3 replies, 2 voices, and was last updated 5 years ago by
.
- Posts
Hello,
Is the exam cost also professional fee which is the allowable deduction?
many thanks anna
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
- You must be logged in to reply to this topic.