IPSE Membership on P11D

[mudskipper]

I've never put it on before, but the accountant's advice this year is that it should go on.

I will ask them, but does anyone know what's changed, or have I been doing it wrong for years?

[mudskipper]

From IPSE's page

https://www.ipse.co.uk/fees-faqs

Can my company pay my membership fees?

Yes. Your company can pay the membership fees, but they will not be a deductible expense from your profits and therefore won't affect your corporation tax bill.



That was my understanding - you paid corp tax on them, but not personal taxes.

[TheFaQQer]

It's perfectly simple - what does your accountant say?

[mudskipper]

It's perfectly simple - what does your accountant say?

FTFY

I think you're mixing your memes there.

[TheFaQQer]

I haven't put it on my P11D this year. I didn't last year or any other year, so I'm not starting now.

HMRC can query it and I'll argue it if necessary.

[malvolio]

It's not a BIK.

[mudskipper]

It's not a BIK.

Thanks - that's what I thought - so it shouldn't go on P11D. Will confirm with accountant as to why they think it should.

[jamesbrown]

Thanks - that's what I thought - so it shouldn't go on P11D. Will confirm with accountant as to why they think it should.

I suspect what they're asking is whether you've paid any fees to IPSE that would result in a personal BIK, which would not include the standard membership fee.

[PerfectStorm]

You may as well pay for this out of your own pocket.

[mudskipper]

I suspect what they're asking is whether you've paid any fees to IPSE that would result in a personal BIK, which would not include the standard membership fee.

Possibly, but if so it's not clear.

The wording is:

"Any payments made to IPSE (formerly the PCG) by YourCo for your own personal subscription should be treated as private and allocated as amounts payable to employee. If the amount is included as a company expense then it will be a taxable benefit and should be included below."

I have emailed them to confirm.