Reply to: IPSE or Qdos or Big Group or keep the money in the bank

[ASB]

It'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.

People can claim it as insurance if they want. They'd be lying, but that is their problem.

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.

[TheFaQQer]

You were told correctly membership is not claimable because they are not on the approved list. Anything then they sell separately may be.

It'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.

[ASB]

Is 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.

You were told correctly membership is not claimable because they are not on the approved list. Anything that they sell separately may be.

[SueEllen]

Is 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?

[northernladuk]

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.

[MPwannadecentincome]

£245 quid (tax deducible)

Is 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.

[TykeMerc]

You don't??? I thought you were the person that voted for me last year?

Nope, I see no value in that type of vote, things like the "Best Umbrella" are meaningless since people will only know the one they're with and they're hardly going to vote if they find the service is iffy, same goes for Accountants and to a large extent Agents.

I can't think of a circumstance that would induce me to vote for "have you searched?" as useful either.

[northernladuk]

I don't vote, but yes I agree he's posted a lot of very useful and/or thought provoking stuff.

You don't??? I thought you were the person that voted for me last year?

[TykeMerc]

I'm voting jamesbrown this year. He's a star.

I don't vote, but yes I agree he's posted a lot of very useful and/or thought provoking stuff.

[mudskipper]

I'm voting jamesbrown this year. He's a star.

[heyya99]

Jeez, called out for being obnoxious and unhelpful and now called out for being nice and helpful.. Bearing in mind the former comes naturally I ought to just return to business as usual

I didn't know the CUK awards was coming up and that boat sailed many years ago. More likely that I might be making an appearance at the xmas do and don't want the crap beating out of me if I did turn up!!

I think I prefer you as a grumpy <snip>

[northernladuk]

Only a cynic would note the timing of the CUK 2015 awards poll opening, and the change in tone in your response

Jeez, called out for being obnoxious and unhelpful and now called out for being nice and helpful.. Bearing in mind the former comes naturally I ought to just return to business as usual

I didn't know the CUK awards was coming up and that boat sailed many years ago. More likely that I might be making an appearance at the xmas do and don't want the crap beating out of me if I did turn up!!

[northernladuk]

Considering his tone is consistently obnoxious across the year (years) it's hard to see how a few posts would moderate that, he's never actually helpful beyond doing the searches for people oh and leaping to conclusions with no evidence to save anyone else making a fool of themselves.

Sadly the first sentence is very true. Although never being helpful beyond searches etc is more pap and an element of pots and kettles there really. There are many other posters better placed to level that accusation

[TykeMerc]

Only a cynic would note the timing of the CUK 2015 awards poll opening, and the change in tone in your response

Considering his tone is consistently obnoxious across the year (years) it's hard to see how a few posts would moderate that, he's never actually helpful beyond doing the searches for people oh and leaping to conclusions with no evidence to save anyone else making a fool of themselves.

In the long run; like all optional insurances; it's a risk judgement based on the factors as you understand them, in truth there's no "correct" answer.

[pr1]

Only a cynic would note the timing of the CUK 2015 awards poll opening, and the change in tone in your response

I thought he'd misread/not read my username - this makes more sense