CPD no longer tax-deductible?

[Gordanus]

Hello, as a professional I need to undertake a certain amount of training every year in order to keep up to date with developments in the field. This costs time and money. The cost has always been tax-deductible - partly it's because without it, I won't be allowed to practice; and partly I suppose because I lose about a week's work due to being at the training.

A colleague told me recently that this is no longer deductible. Anyone know if this is true? It seems mad, seeing that I'd be barred from working if I don't do it.

 

[Gekko]

It's still deductible as the expense is wholly and exclusively incurred for the purposes of your profession.

There was some messing about a year ago when it looked like professional subscriptions paid by companies for their staff would be treated as a BIK but that was then clarified (for accountants and tax professionals certainly).

 

[T McGibney]

For more background on the abortive plans to scrap relief for CPD, and Revenue's response, see my previous blog post on this topic

 

[Gordanus]

Thanks very much Gekko and T McGibney. I'm delighted to hear it!