Daft Question - PCG

[opc]

Do I join as an individual, or does my company join as a corporation?

[ChimpMaster]

And further to that :

Say you are contracting from 2008 - 2010, then stop contracting and also cease to be a member of PCG insurance. What if HMRC decide to investigate you in 2011 for 2008/9? Are you covered?

Or do you have to pay PCG insurance forever in order to be covered for past years?

[opc]

If you want PCG's representatives in 2009 surely you have to be a member in 2009, regardless of the period Mr Taxman is investigating..

[ChimpMaster]

If you want PCG's representatives in 2009 surely you have to be a member in 2009, regardless of the period Mr Taxman is investigating..

You haven't answered any question with that statement.

[BrowneIssue]

Do I join as an individual, or does my company join as a corporation?

SInce it is not recognised by HMRC as a professional body ('cos it ain't one), if your company pays for you, you must reimburse your company as it is not a legitimate expense. Equally, if you pay you cannot claim it as expenses.

So if you are joining for you, you personally have to pay, not your Ltd Co.

Does that help?

[opc]

SInce it is not recognised by HMRC as a professional body ('cos it ain't one), if your company pays for you, you must reimburse your company as it is not a legitimate expense. Equally, if you pay you cannot claim it as expenses.

So if you are joining for you, you personally have to pay, not your Ltd Co.

Does that help?

Spot on, thanks.

[opc]

You haven't answered any question with that statement.

I have. In my opinion, if the taxman investigates you in 2011, and you aren't a PCG member in 2011, you don't get representation.

Just my view, it's not gospel.

[BrilloPad]

SInce it is not recognised by HMRC as a professional body ('cos it ain't one), if your company pays for you, you must reimburse your company as it is not a legitimate expense. Equally, if you pay you cannot claim it as expenses.

So if you are joining for you, you personally have to pay, not your Ltd Co.

Does that help?

Dont tell my accountant that please!

[BrowneIssue]

Dont tell my accountant that please!

I bung it through the books too... if it ever gets queried I'll just cough up the tax. It's the only thing I knowingly claim that I shouldn't. There's a weak and dodgy principle underlying that, but too weak to defend.

[bored]

Pardon me if I'm wrong, but why are you not allowed to claim the subscription fee as an expense? AFAIR claiming it as an expense is fine, but you cannot offset it against corp tax.