ACCA courses, can i claim back against Tax?

Evertonia

Hi all,

I have personally paid my own fees for ACCA courses over the last number of years. Do these qualify for tax relief under Tuition Fees relief?

I have attended these courses in BPP and DBS!

abhishek

Yeah you can claim back tax for the fees paid by yourself in the last three to four years (not sure about 3 or 4), but the thing is that you need to have enough tax credits in each year of fees payment, that is you need to be employed here in the years you've paid your fees. They'l ask you for your P45's or P'60s for each year plus a tax reciept from college stating that you have paid fees etc.! Hope this is helpful! I have taken the text below directly from DBS website of ACCA :

"Tax Relief
Dublin Business School is an approved college under the Finance Act 1995 (and subsequent amendments) which provides for income tax relief on qualifying fees paid to approved colleges. Tax relief on all ACCA courses is at the standard income tax rate of 20%."

Therefore every year that you have paid, you will get 20% of the fees paid in that year! Have fun with the money!

Evertonia

Thanks abhishek

JTMan

Can a company claim back tax if they paid an employees fees for the ACCA's?

Thanks.

loveacca

Fungus wrote: »

Can a company claim back tax if they paid an employees fees for the ACCA's?

Thanks.

They can, it just goes through as a normal business expense

lopppy

abhishek wrote: »

Therefore every year that you have paid, you will get 20% of the fees paid in that year! Have fun with the money!

Up to 2010 this was the case (subject to a maximum amount of qualifying fees of 5,000).

Since Jan 2011 there's a restriction on the relief, 2,000 for full time courses and 1,000 for part time courses.

So if your doing a full time course that cost 3000 in 2011, you'll get (3000-2000)
X 20% = 200.