- This topic has 3 replies, 2 voices, and was last updated 3 weeks, 6 days ago by
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- May 16, 2020 at 1:40 pm
Hello,
Is the exam cost also professional fee which is the allowable deduction?
many thanks anna
May 20, 2020 at 9:20 amIt 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
June 2, 2020 at 5:10 pmMany 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
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