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Daft Question - PCG
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Originally posted by bored View PostPardon 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.
Anyway, the PCG is not on that list. So it is not a legitimate expense, in their opinion. And they make up the rules.Drivelling in TPD is not a mental health issue. We're just community blogging, that's all.
Xenophon said: "CUK Geek of the Week". A gingerjedi certified "Elitist Tw@t". Posting rated @ 5 lard pointsComment
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Originally posted by BrowneIssue View PostThere is a list of all the different professional bodies whose membership you can claim as an expense on the HMRC web site. I found it interesting reading; just like the list of VAT registration codes for different types of business, it shows just how tulipe careers advisers are. These lists are great for telling you all the things you could do when you hit your mid-life crisis, or could aspire to when considering university.
Anyway, the PCG is not on that list. So it is not a legitimate expense, in their opinion. And they make up the rules.This default font is sooooooooooooo boring and so are short usernamesComment
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Originally posted by BrowneIssue View PostAnyway, the PCG is not on that list. So it is not a legitimate expense, in their opinion. And they make up the rules.
It's not a legit expense under "membership of a professional body" but it's perfectly allowable under "legal fees" (and probably accounting fees too)Comment
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Originally posted by Platypus View PostBalls, sir.
It's not a legit expense under "membership of a professional body" but it's perfectly allowable under "legal fees" (and probably accounting fees too)
Oh, how I wish these rules weren't so damned obscure. Every time I think I have my head around what we can or cannot do, I get made to feel as though I'm wrong again.
WTF do we have to have a taxation system that is so ferkin complicated for small businesses? Is it really in the best interests of the country?
I like simple laws; they are easy to follow. That's my the ten commandments are so enduring. But UK tax law is just a millstone around our necks. The amount of time and energy we put into trying to understand this stuff is stopping us from innovating and earning. It is FUKIN STUPID.Drivelling in TPD is not a mental health issue. We're just community blogging, that's all.
Xenophon said: "CUK Geek of the Week". A gingerjedi certified "Elitist Tw@t". Posting rated @ 5 lard pointsComment
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Originally posted by Platypus View PostBalls, sir.
It's not a legit expense under "membership of a professional body" but it's perfectly allowable under "legal fees" (and probably accounting fees too)Comment
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Originally posted by Andy2 View PostSJD lets me claim it under accountancy feesOlder and ...well, just older!!Comment
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Last year's discussion on the topic is here.
I know Mal never posted here in any official capacity, but here's his summary
Originally posted by malvolio View PostOK, I got bored enough to read the PCG's extensive history on this subject. To summarise...
It is an allowable business expense. There YourCo can pay it for you.
There is no assoicated BIK
However, you cannot offset it against CT because of the "not a registered body" rule.
Nuff said?Comment
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Originally posted by opc View PostI 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.
Say your contract career lasts 10 years. Then you go permie. So you would have to keep on paying for PCG insurance even while you're permie, in case you are investigated at that time?
And another: let's say you contract from Year 1 to Year 5, without PCG insurance. And then you get insurance for your contracting in Years 6 to 10.
What happens if HMRC contact you in year 6 to investigate your Year 1 Tax Return / IR35 status?Comment
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