• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

IPSE Membership on P11D

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    #31
    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 :-)
    Rhyddid i lofnod psychocandy!!!!

    Comment


      #32
      Originally posted by psychocandy View Post
      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.

      Comment


        #33
        Originally posted by jamesbrown View Post
        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;
        Rhyddid i lofnod psychocandy!!!!

        Comment


          #34
          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
          'CUK forum personality of 2011 - Winner - Yes really!!!!

          Comment


            #35
            Originally posted by psychocandy View Post
            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.
            Best Forum Advisor 2014
            Work in the public sector? You can read my FAQ here
            Click here to get 15% off your first year's IPSE membership

            Comment


              #36
              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.

              Comment


                #37
                Originally posted by Zero Liability View Post
                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.

                Comment


                  #38
                  Originally posted by Contreras View Post
                  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.

                  Comment


                    #39
                    Originally posted by simes View Post
                    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.
                    See You Next Tuesday

                    Comment


                      #40
                      Originally posted by Lance View Post
                      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...
                      Blog? What blog...?

                      Comment

                      Working...
                      X