UK Tax and type rating costs - advice pls!

[mikepops]

Could one claim tax back in the UK for a self funded type rating?... or could he claim back the money spent paying a bond justified by the cost of a type rating?

Tax experts please advise. Thanks.:ok:

[mikepops]

...Also could the cost of an Instructor Rating be offset against the tax?... after all it is an investment in training for a self-employment based trade. Any info would be appreciated. Anyone tried it?

[nick14]

Im pretty sure that because in order to instruct for issue of licence you need to be affiliated with a school then you will be employed by said school and will struggle to convince the tax man with that one.

As for type ratings many brookfield pilots for RYR have done so by setting themselves up as a sole trader and doing a profit/loss spreadsheet including the 30k loss at the start of TR training.

Nick

[midgie]

I'm NO expert on this but I recall a thread about this a couple of years ago. So hopefully a search may reveal something.

I think you would have to be set up as a (Ltd?) company & it is pretty complex.

Sorry I can't be of further help. Good luck though.

Ah - I see nick14 got in a reply just before me. And a much more informed one at that!! lol.

[nick14]

http://www.pprune.org/terms-endearment/355014-brookfield-working-practices-conditions-contracts.html

http://www.pprune.org/terms-endearment/360785-taxation-advice-re-brookefield.html

try those

Nick