Take Advantage of Tax Relief on Training Courses

The start of a New Year tends to make us reassess and reset where we are and where we want to be in life.  Aiming to better ourselves professionally in generally always high on the agenda.

Therefore, why not take advantage of tax relief for training course as a day-to-day business expense. 

Allowable Training Courses

Tax relief claimed on training courses which are required for a specific contract.  All training courses must be carried out within the timeframe of the contract and demonstrated as a direct requirement for the contract. Should you wish to undertake a training course and can show that it is relevant for your contract you will be able to claim tax relief at up to 52% through your limited company.

Supporting Information Required

Receipts must be made out in name of the Limited Company & Completion of the pre-approval form.

In the event of a Revenue enquiry you must be able to show how the course was a relevant business expense for your limited company. 

Non-Allowable Training  

Long term educational courses including Diploma/ Degree/Masters.

Courses which exceed the duration of an assigned contract.

Personal Educational or Training courses that are related to your line of work.

Other Courses  

Certain education courses may be claimed through your personal tax return as a tax credit at 20%

Seeking more information in this area? Don't hesitate to get in touch by email at info@iconaccounting.ie or call 01 8077106.