Tax & training costs
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Join Date: Jul 2003
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Tax & training costs
Hi All
Now that (and for some while) the NVQ option no longer exists to reduce the outlay in training for ATPL's what are the thoughts on reclaiming your training costs as legitimate expenses ? especially now that some people are having to fork out for their type ratings too ?
Having worked under Ltd company umbrellas for sometime, is it feasible that once one does secure employment that the earnings can be offset against the costs ?.
My thoughts are that with many airlines now not generally offering pension contributions etc or paying for people to study (old sponsor schemes) and expecting people to pay for their ratings that there is maybe not too much left that ties people into the airline on a salary basis. Obviously this could significantly help those in repaying loans by reducing the amount paid on tax (of relief that used to be there but is no more)
even further down the line perhaps other people/firms would be interested in "taking your debt" so to speak and you are a "sponsored student" under their umbrella, thus reducing their annual corporate tax bill and some how a portion of your salary goes to them ??
If this post seems a little naive I apologise but would appreciate view from others.
Thanks
Flystudent
Now that (and for some while) the NVQ option no longer exists to reduce the outlay in training for ATPL's what are the thoughts on reclaiming your training costs as legitimate expenses ? especially now that some people are having to fork out for their type ratings too ?
Having worked under Ltd company umbrellas for sometime, is it feasible that once one does secure employment that the earnings can be offset against the costs ?.
My thoughts are that with many airlines now not generally offering pension contributions etc or paying for people to study (old sponsor schemes) and expecting people to pay for their ratings that there is maybe not too much left that ties people into the airline on a salary basis. Obviously this could significantly help those in repaying loans by reducing the amount paid on tax (of relief that used to be there but is no more)
even further down the line perhaps other people/firms would be interested in "taking your debt" so to speak and you are a "sponsored student" under their umbrella, thus reducing their annual corporate tax bill and some how a portion of your salary goes to them ??
If this post seems a little naive I apologise but would appreciate view from others.
Thanks
Flystudent
