Originally posted by northernladuk
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IPSE or Qdos or Big Group or keep the money in the bank
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This default font is sooooooooooooo boring and so are short usernames -
I wouldn't buy it if I didn't have a business so wholly and exclusive for me. IPSE could be questioned as it's membership but I believe it's allowable due to other benefits so wouldnt take it if you didn't have the business it's deductible as well.. I think that's right.Last edited by northernladuk; 2 December 2015, 21:29.'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
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Originally posted by MPwannadecentincome View PostIs it fully tax deductible? I thought this insurance was a personal insurance rather than a business one... also the IPSE Plus membership which covers tax investigation costs I was told is not deductible from Corporation Tax due to the fact that the membership is not recognised by HMRC as IPSE will not release their membership lists to them.
Would you buy it if you didn't have a business?"You’re just a bad memory who doesn’t know when to go away" JRComment
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Originally posted by MPwannadecentincome View PostIs it fully tax deductible? I thought this insurance was a personal insurance rather than a business one... also the IPSE Plus membership which covers tax investigation costs I was told is not deductible from Corporation Tax due to the fact that the membership is not recognised by HMRC as IPSE will not release their membership lists to them.Last edited by ASB; 3 December 2015, 12:16.Comment
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Originally posted by ASB View PostYou were told correctly membership is not claimable because they are not on the approved list. Anything then they sell separately may be.
AIUI, HMRC maintain a list of "professional organisation" whereby you can claim the tax relief. But to be on that list, you have to hand over the membership list to HMRC so they can check who can claim it. So that's not going to happen.
Some people I know class it as insurance, though, even though IPSE don't sell insurance.Comment
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Originally posted by TheFaQQer View PostIt's a regular argument.
AIUI, HMRC maintain a list of "professional organisation" whereby you can claim the tax relief. But to be on that list, you have to hand over the membership list to HMRC so they can check who can claim it. So that's not going to happen.
Some people I know class it as insurance, though, even though IPSE don't sell insurance.
From the horses mouth:-
"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."
Link: https://www.ipse.co.uk/membership-faqs
I would find it quite amusing (in an ironic sort of way) if one of the investigations they defend included HMIT objecting to the fees being claimed against CT.Comment
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