Annual Accountancy Subscription Tax Relief

C

cork

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Is tax relief available on annual subscriptions?

Is relief at the standard rate only?

I can't find a job in accountancy and it is infuriating to pay €500+

(I do CPD/CPE om a budget - many cheap conferences at 3rd level colleges)
 
You can tax deduct your subscription fee.

As for CPD (if you're ACCA) - you get an exemption from verifiable units for the period you're unemployed - have a look at the online return. If you're one of the others ring them and find out - no point in paying for courses if you're not working !
 
The CPE's and the prices of them really gall me. I understand that its to continue the education and to keep up up to date and all that but I cannot understand how one days of lecture can cost 285 euros like i paid last thursday.

So slightly off topic, where are these cheap CPE/CPD hours to be had?
 
I don't believe you can get a tax deduction for your subscription fees. However I do know that if an employer pays your fees, then its also not BIK for you (and therefore not taxed upon you) as it enables you to perform your duties to the standard required of the job. If your job doesn't require work of standard, then its BIK.
 
I would be very surprised if attendance at a conference on Jack Lynch will satisfy the CPD requirements of any of the Irish accountancy institutes.
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There was a lot of content on the economy & leadership.

County and City Entreprise boards slso run a lot of events
 
I don't believe you can get a tax deduction for your subscription fees. However I do know that if an employer pays your fees, then its also not BIK for you (and therefore not taxed upon you) as it enables you to perform your duties to the standard required of the job. If your job doesn't require work of standard, then its BIK.
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Yes there's no BIK if it's relevant to your job to be a member of a body - however it is deductible as a legitimate business expense provided you're self-employed.
 
The acid test for deductibility is wholly, necessarily and exclusively in the performance
There is a body of case law on this.
A lab tech was disallowed cost of night classes.
An ACCA student was disallowed tuition fees even though contractually obliged to qualify.
When studying they were not acually carrying on the amployment
getting the employer to fund CPD would be better.
If you were self-employed the CPD could be an expense of ensuring you were able to trade.

I remember the Commerce Society. Any resemblance to areal seminar would be coincidental
 
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