VAT & Commercial Training
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VAT & Commercial Training
I don't know who is aware and who isn't but it appears that through some kind of loophole FTOs can get out of paying VAT on commercial training. Oxford have just started doing it. I am not sure of the criteria but it involves the FTO establishing a non profit making company.
As I say, don't know who is going to do it (except OATS) but just thought others may be interested so we can at least ask the question when it comes to parting with our well loaned money!!
As I say, don't know who is going to do it (except OATS) but just thought others may be interested so we can at least ask the question when it comes to parting with our well loaned money!!
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Don't know about the business issue, but with a litte effort you can get yourself vat registered. You can then reclaim the vat on yer training.In essence you have to create a personnal business on paper . The idea is to convince them that post training you will probably be self employed doing charters/teaching etc before you get a fixed job from one employer. As far as I can make out as long as you repay them some earnt vat(not as much as you've saved) post training they aren't too worried.I'm no expert but I've just had HMCE send me the forms and sadly the booklets i need to read to fill in the forms, if you wanna know a little more drop us an email and i'll try to answer it.
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It went Earth,Sky,
AMBULANCE
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It went Earth,Sky,
AMBULANCE
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Quidam,
I've discussed this one a great length with a several accountants, and it was their opinion that C&E would need a lot of convincing that the VAT could be claimed back on training, as you realise the difficulty comes in convincing them that you would be effectively self-employed after training.
Sorry, mate. If you get anywhere with it, tell us, because there would be loads of people following you in claiming it back!
Cheers!
foggy
I've discussed this one a great length with a several accountants, and it was their opinion that C&E would need a lot of convincing that the VAT could be claimed back on training, as you realise the difficulty comes in convincing them that you would be effectively self-employed after training.
Sorry, mate. If you get anywhere with it, tell us, because there would be loads of people following you in claiming it back!
Cheers!
foggy
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I believe that this topic has been discussed on many occasions. If however, it was a feasable option you would find every pilot claiming back their VAT.
On the other hand, if Oxford has/is becomming a non profit organisation, you should find their price going down for their JAR CPL/IR courses then (yeah right). On a 40K course you're looking at being around 6K better off. Or will OATS prices increase to match 'unforseen' administraion costs??
Homer
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Duff, Duff, that Wonderful stuff. Ummmmm Doughnuts
On the other hand, if Oxford has/is becomming a non profit organisation, you should find their price going down for their JAR CPL/IR courses then (yeah right). On a 40K course you're looking at being around 6K better off. Or will OATS prices increase to match 'unforseen' administraion costs??
Homer
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Duff, Duff, that Wonderful stuff. Ummmmm Doughnuts
