Training Costs - Tax allowable ?
Has anyone out there had any success with this topic ?
I'm UK based and am currently part way through JAA ATPL ground school.
It's tax return time of year again and I got to thinking "wouldn't it be nice" if the thousands of pounds that I am spending on training costs could be offset against my future income as a pilot.
i.e. - Get a large part of my training costs refunded albeit a year or two down the line.
I made some brief enquiries a while back - thought about setting up a company to incurr the costs now and earn fees / employ me later. The small advice that I received was that "it can't be done in the U.K. - expenses are only allowable when you are employed ..." and "one man companies were abused a
lot in the past - so nothing is available now ...".
If you have managed to solve this one, I'd love to hear from you !
Thanks,
D 129