Was wondering if any of the sages here knew whether there is any way to offset/claim back tax for money paid out for LGV training.
I’m employed but self funding, was thinking career development or something
Like that■■?
TIA
Just ask them if you can pay cash, i did and saved a few quid
Yes you can, It’s been covered many times over the years.
You need form P87 from the tax man. You’ll offset any training, dcpc, licence fees, digi card, passport, and anything associated with career advancement against your income tax.
They don’t always give it you on your first attempt, So keep at it. You’re entitled to it.
When you ask for the form, Ask for the booklet as well, Find the bit that refers to career advancement, photocopy it, then highlight the relevent bit and staple it to your form.
Vortexringpiece:
Was wondering if any of the sages here knew whether there is any way to offset/claim back tax for money paid out for LGV training.I’m employed but self funding, was thinking career development or something
Like that■■?TIA
Worth talking to your local HMRC office (if it is still open, or on the phone, if you can get them to answer). Basically, the costs of training are an allowable expense under the ‘tools of the trade’ rules if i) your employer requires you to do this training but is not prepared to pay for it or ii) if you intend to use the training to become self-employed.
It is not possible to offset the cost of training against tax if you are just doing it because it is a hobby, or just because you want to - you will have to show that you NEED the training either for your current job, or to enhance your future prospects.
Good luck.
Thanks for the suggestions chaps, worth a shot.
Be aware that it is an allowance to offset tax so you won’t get it all back.
If you don’t earn enough to pay tax you’ll get nothing back.
If you pay 20% tax you’ll get 20% back assuming you’ve earned the equivalent of the course over the tax free allowance or you’ll get less than the 20% back.
If you’re earning enough to pay 40% tax you’ll get between 20% to 40% back depending on how much of your income is taxed at 40%.