PAYE but want to invest in training for possible future additional income.

roytheboyo

Registered User
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97
Hi,
I work PAYE, pay tax in usual way. I want to invest 10k approx. in courses that I want to do (not third level courses that get normal tax relief), basically legal accreditation. The purpose of this is to hopefully generate future additional income from this other work. Can I offset the cost of these accreditation/courses against my PAYE tax? I suspect not, but if this is the case I probably wont do it, as cant afford the money just now, examples include accounting qualifications, legal accreditation etc.
 
Yes if it's is an accredited course. Best to contact the college you're considering and they'll advise of the status of the course, not all colleges are the same so check out a few.

For part time courses the first €1500 paid in each year is disgregarded and you get 20% tax relief on the balance (assuming you've paid tax in the year). If the course costs €10,000 in total it would be more tax efficient to pay it all in the one year if you can afford it, otherwise you can only claim what you've actually paid in the tax year and will lose the first €1500 each year.

You pay the college in full and claim the tax refund once you have your p60. Exam fees & student registration fees don't qualify. I'm on the phone so can't link but google tax relief on tuition fees and you'll see all the details on the revenue site.
 
Thanks for replies. To be clear, revenue have a list of courses that qualify for tax relief, fair enough. What I want to do is accounting and legal exams that are not on this list. I don't see why these aren't allowable for tax given that I will be nailed if/when I start generating additional non paye income.
 
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