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Question re: Self-assessment reclaim?

KoopaCooperKoopaCooper London, UKMAAT, AATQB Posts: 225
So I decided that, since I have membership with the IAB and AAT, I'd look at registering for self-assessment to claim tax relief on my fees.

Seems studying for a new course does not qualify for tax relief. Oh well. But professional membership does count.

My question, though, is:

1) A new course doesn't qualify for tax relief...but does CPD count? (it's surely revenue expenditure, while I'm imagining a new course is treated as capital expenditure?)

2) Professional memberships count (so my MIAB is allowable), and Student memberships don't count (so my AAT student membership isn't allowable)...but what about Affiliate memberships? Are they professional and allowable, or not and not? (I ask because if I've passed my ISYS project, my renewal in January will be at Affiliate grade)
Accounts Executive, ғɪᴀʙ ᴍᴀᴀᴛ
QBO & Xero certified advisor

AAT
Level 2 Certificate in Accounting - 17 Jun 2015
Level 3 Diploma in Accounting - 22 Jan 2016
Level 4 Diploma in Accounting - 19 Dec 2017
MAAT - 27 Mar 2018

ACCA
Advanced Diploma in Accounting and Business...
F4 Corporate and Business Law - 4 Jun 2019
F5 Performance Management - 15 July 2019
F6 Taxation (United Kingdom) - 3 Dec 2019
F8 Audit and Assurance - 2 Mar 2020

Comments

  • KoopaCooperKoopaCooper London, UKMAAT, AATQB Posts: 225
    edited October 2017
    Oh, that would be employment income from working as an employee in practice, then.
    Accounts Executive, ғɪᴀʙ ᴍᴀᴀᴛ
    QBO & Xero certified advisor

    AAT
    Level 2 Certificate in Accounting - 17 Jun 2015
    Level 3 Diploma in Accounting - 22 Jan 2016
    Level 4 Diploma in Accounting - 19 Dec 2017
    MAAT - 27 Mar 2018

    ACCA
    Advanced Diploma in Accounting and Business...
    F4 Corporate and Business Law - 4 Jun 2019
    F5 Performance Management - 15 July 2019
    F6 Taxation (United Kingdom) - 3 Dec 2019
    F8 Audit and Assurance - 2 Mar 2020
  • KoopaCooperKoopaCooper London, UKMAAT, AATQB Posts: 225
    1) Okay, I wasn't sure about whether CPD counted or not, that settles that then. Thanks.

    2) Student memberships are allowable? I asked HMRC via their chat system not long ago, and was told that student membership does not count as professional membership... (although admittedly, that could just be that that particular HMRC employee gave me the wrong answer...wouldn't be the first time).

    3) Thanks, I realised registration might not be necessary after I'd already registered myself. xD
    Accounts Executive, ғɪᴀʙ ᴍᴀᴀᴛ
    QBO & Xero certified advisor

    AAT
    Level 2 Certificate in Accounting - 17 Jun 2015
    Level 3 Diploma in Accounting - 22 Jan 2016
    Level 4 Diploma in Accounting - 19 Dec 2017
    MAAT - 27 Mar 2018

    ACCA
    Advanced Diploma in Accounting and Business...
    F4 Corporate and Business Law - 4 Jun 2019
    F5 Performance Management - 15 July 2019
    F6 Taxation (United Kingdom) - 3 Dec 2019
    F8 Audit and Assurance - 2 Mar 2020
  • MarieNoelleMarieNoelle Trusted Regular Hampshire/Surrey borderModerator, MAAT, AAT Licensed Accountant Posts: 1,431
    I don't think the student membership is allowable
    Can't seem to find anything to back this up but I would be surprised if it was.
  • MarieNoelleMarieNoelle Trusted Regular Hampshire/Surrey borderModerator, MAAT, AAT Licensed Accountant Posts: 1,431
    I think it's a cost of getting a new qualification therefore capital.
  • MarieNoelleMarieNoelle Trusted Regular Hampshire/Surrey borderModerator, MAAT, AAT Licensed Accountant Posts: 1,431
    They are but they don't give you access to the full membership.
    If you are level 3 and pay for a bookkeeping licence with the AAT then yes the licence is deductible.
    If you decide to stop at Level 2 will you pay a student membership every year? Probably not.
    I don't have a definite answer on this and it may be worth the OP giving the AAT a call for clarification.
  • MarieNoelleMarieNoelle Trusted Regular Hampshire/Surrey borderModerator, MAAT, AAT Licensed Accountant Posts: 1,431
    Well, it looks like PNL agrees with you @Mickdundee
    I stand corrected (however unconvinced on the principle!)
  • MarieNoelleMarieNoelle Trusted Regular Hampshire/Surrey borderModerator, MAAT, AAT Licensed Accountant Posts: 1,431
    I didn't say I agreed with either of you but happy to go with the majority ;-)
  • MarieNoelleMarieNoelle Trusted Regular Hampshire/Surrey borderModerator, MAAT, AAT Licensed Accountant Posts: 1,431
  • KoopaCooperKoopaCooper London, UKMAAT, AATQB Posts: 225
    Nope, that OP was not me - I don't have an account on AccountingWeb. xD

    In the end, I submitted a P87 form with the subscriptions for both bodies - if they accept them, that's fine, if not then that's also fine.
    Accounts Executive, ғɪᴀʙ ᴍᴀᴀᴛ
    QBO & Xero certified advisor

    AAT
    Level 2 Certificate in Accounting - 17 Jun 2015
    Level 3 Diploma in Accounting - 22 Jan 2016
    Level 4 Diploma in Accounting - 19 Dec 2017
    MAAT - 27 Mar 2018

    ACCA
    Advanced Diploma in Accounting and Business...
    F4 Corporate and Business Law - 4 Jun 2019
    F5 Performance Management - 15 July 2019
    F6 Taxation (United Kingdom) - 3 Dec 2019
    F8 Audit and Assurance - 2 Mar 2020
    MarieNoelle
  • MarieNoelleMarieNoelle Trusted Regular Hampshire/Surrey borderModerator, MAAT, AAT Licensed Accountant Posts: 1,431

    Nope, that OP was not me - I don't have an account on AccountingWeb. xD

    Apologies for assuming wrongly ;-)
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