any financial advantages when loaning in the Netherlands and being employed in the UK
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Join Date: May 2005
Location: Belgium
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any financial advantages when loaning in the Netherlands and being employed in the UK
Hi all,
I have a question about borrwing money for a pilot training. EPST (Dutch FTO) trains his pilots at OAT. The required money is borrowed from a Dutch bank. If you borrow money in the Netherlands for study reasons, you pay the yearly interests of the loan but one can ask back this amount of money from the Dutch state. This is quite an advantage considering the amount of money which is lend (more than 120.000 euros): after 3 years the monthly interest is about 500 euros.
Can anyone tell me how this is arranged in the UK? I ask this because there is a considerable chance of being employed in the UK if you attend a pilot training @ EPST
best regards
Stijn
I have a question about borrwing money for a pilot training. EPST (Dutch FTO) trains his pilots at OAT. The required money is borrowed from a Dutch bank. If you borrow money in the Netherlands for study reasons, you pay the yearly interests of the loan but one can ask back this amount of money from the Dutch state. This is quite an advantage considering the amount of money which is lend (more than 120.000 euros): after 3 years the monthly interest is about 500 euros.
Can anyone tell me how this is arranged in the UK? I ask this because there is a considerable chance of being employed in the UK if you attend a pilot training @ EPST
best regards
Stijn
Chieftan o'the Pudden Race
Join Date: Nov 1997
Location: Scotland usually, and often other parts of Europe
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To be able to reclaim the interest on the loan you must remain under the Dutch tax system.
You cannot reclaim anything from the British tax system.
You cannot reclaim anything from the British tax system.
Join Date: Dec 2004
Location: The Netherlands
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It's not possible anymore to deduct your payed interest from your payed taxes. What is possible in the Netherlands, is deducting your study expenses from your payed taxes in the Netherlands. So when you have a high paid office job or something else, you can get a lot of your paid flying expenses back from the tax office! That's why I'm really thinking of getting a job with my masters next year, work like a maniac, and do my training modular in the holidays. It will take longer than training with epst and way less chance of a job, but financially it's a better way of training for me.