IPSE Membership on P11D

[psychocandy]

Oops sure for the past few years I've paid for it personally and then claimed it as an expense from the company.

Guess this is not right?

Blaming accountant here now :-)

[jamesbrown]

Oops sure for the past few years I've paid for it personally and then claimed it as an expense from the company.

Guess this is not right?

Blaming accountant here now :-)

If the membership is assigned to your company, it's fine. If it's in your name, it isn't. As MS suggested, login to the IPSE website and check one of your invoices.

[psychocandy]

If the membership is assigned to your company, it's fine. If it's in your name, it isn't. As MS suggested, login to the IPSE website and check one of your invoices.

Its got

Name
Company at the top

Details

Company - IPSE membership;

[northernladuk]

There is a lovely long argument about this in the thread below. Granted it's from 2008 but I doubt the rules have changed and I still can't see it on the Gov's list of Approved Professional Organisations as linked in one THE PUMA's posts... Wonder where he's gone BTW...

http://forums.contractoruk.com/accou...5-expense.html

[TheFaQQer]

Its got

Name
Company at the top

Details

Company - IPSE membership;

Mine has the company name under the "Item Description" section, so it's a company membership not a personal one.

[Zero Liability]

Sorry to revive this. Regarding putting it in the company's name, is it a fairly simple matter to then transfer it (or QDOS's fee insurance) to your own name upon winding up the company? Also, seeing as it is not allowable for CT purposes, what is the benefit of having it in the company name? That you're avoiding having to pay for it out of pocket? Thanks.

[Contreras]

Also, seeing as it is not allowable for CT purposes, what is the benefit of having it in the company name? That you're avoiding having to pay for it out of pocket? Thanks.

As mentioned in post #16 up there ^^ somewhere.

If paying dividends above basic rate then you'd effectively save 22.5% of the membership fee amount in tax due. Even if you limit dividends to stay in the basic rate band it does allow the company to pay out more before you hit that limit.

[simes]

As mentioned in post #16 up there ^^ somewhere.

If paying dividends above basic rate then you'd effectively save 22.5% of the membership fee amount in tax due. Even if you limit dividends to stay in the basic rate band it does allow the company to pay out more before you hit that limit.

This (my company) year just gone, ClearSky has declared IPSE non tax deductible.

The year previous to last, they had included as tax deductible.

Must admit, prior to this notification, and searching for this thread, I would Always have assumed it to be tax deductible.

[Lance]

This (my company) year just gone, ClearSky has declared IPSE non tax deductible.

The year previous to last, they had included as tax deductible.

Must admit, prior to this notification, and searching for this thread, I would Always have assumed it to be tax deductible.

So would I. IMO it's a legal fee. For contract creation and legal assistance in various scenarios.
If I closed my company I'd let it expire, along with any insurances.

[malvolio]

So would I. IMO it's a legal fee. For contract creation and legal assistance in various scenarios.
If I closed my company I'd let it expire, along with any insurances.

It's not a BIK but it is not deductible against CT. The reasons why are complex but factually and legally correct.

HTH...