Originally posted by pmeswani
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Reply to: Company Paying Membership Fees
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Previously on "Company Paying Membership Fees"
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Originally posted by malvolio View PostThat's PCG One Stop, a complete package of accountancy, insurance and membership aimed a simplifying getting started as a contractor. I kind of assumed tht you were talking about standard membership... Yes it is claimable
I guess that if it came down to it, I could claim for the insurance and accountancy portions (which is the bulk of the amount) and leave out the membership fee. I'll find out when the year end accounts are done in the next month or so.
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Originally posted by malvolio View PostThat's PCG One Stop, a complete package of accountancy, insurance and membership aimed a simplifying getting started as a contractor. The accountancy obviously has a cost, as does the insurance. That's a slightly different thing to "PCG membership". I kind of assumed tht you were talking about standard membership...
Yes it is claimable, and the fees as far as I know can be offset against CT since the memebrshiop is effectively free with that package. But since the fee includes accountancy support, why not ask the accountant?
Originally posted by PCG Website- Meetings and correspondence with your accountant
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Yes it is claimable, and the fees as far as I know can be offset against CT since the memebrshiop is effectively free with that package. But since the fee includes accountancy support, why not ask the accountant?
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Originally posted by malvolio View PostPCG membership doesn't include either.
PCG insures itself for the cost of representing its members, and they don't do accounting services, they only try to ensure that accountants fully understand the oddities of the one-man band contractor.
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Originally posted by Wanderer View PostWhat if the PCG membership includes insurance and accountancy?
PCG insures itself for the cost of representing its members, and they don't do accounting services, they only try to ensure that accountants fully understand the oddities of the one-man band contractor.
There is a long legal story (it goes back to a case in 1910...) about why the PCG subs aren't allowable for CT relief, but it centres on PCG not wanting to give HMRC a full and detailed list of its members. Can't imagine why not...
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PCG fees can be paid, but the expense can NOT be used against the company's tax liability.
BCS fees can be paid, and free of tax:
HM Revenue & Customs: Subscriptions and professional fees
and here is the listed of approved bodies (for tax free membership):
http://www.hmrc.gov.uk/list3/list3.pdfLast edited by FarmerPalmer; 20 March 2011, 17:04.
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My accountant old me that my company can pay the pcg fees, although they are not allowed for tax! So I think he explained it that I would pay corporation tax on the pcg fees. I don't know about BCS?
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Company Paying Membership Fees
Basically can my Ltd pay for my professional membership fees to PCG & BCS etc or if this classed as BIK?Tags: None
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