Claiming back professional subscriptions

If your employment requires that you obtain and maintain membership of a professional organisation, you can make a claim to set the cost against your taxable earnings for income tax purposes. As you would expect there are a few hoops you will need to jump through to claim this relief. They are:

  • You must have the professional membership to do your job or if membership helps you with your work.
  • You can only claim back subscriptions to organisations approved by HMRC.
  • You cannot claim back fees for life membership subscriptions.
  • You cannot claim subscriptions you have not paid yourself, for example, your employer has paid them for you.

 

To see the full list of professional organisations and other learned societies that are approved by the tax office visit this page on the GOV.UK website:

https://www.gov.uk/government/publications/professional-bodies-approved-for-tax-relief-list-3/approved-professional-organisations-and-learned-societies

Evidence of earning for mortgage purposes

If you are a client, and registered to submit a Self Assessment tax return, we can provide you with a statement that you can use as evidence of earnings for mortgage purposes.

If you are not a client, there are many ways you can obtain this data direct from employers and other sources. For example, you could use the following as evidence of earnings:

  • A P60 from your employer, you should receive this on or before the 1 May following the end of each tax year.
  • Alternatively, you can contact HMRC and request a tax year overview. This will take approximately two weeks to arrive so you should possibly request this information before you apply for your mortgage or loan.

If you submit your own tax return using HMRC’s online portal, you should be able to download and print the evidence you need.

The evidence of earning that you should request from HMRC is called an SA302. You should be able to obtain copies for up to four years in this format.

Tax Diary September/October 2017

1 September 2017 – Due date for Corporation Tax due for the year ended 30 November 2016.

19 September 2017 – PAYE and NIC deductions due for month ended 5 September 2017. (If you pay your tax electronically the due date is 22 September 2017)

19 September 2017 – Filing deadline for the CIS300 monthly return for the month ended 5 September 2017.

19 September 2017 – CIS tax deducted for the month ended 5 September 2017 is payable by today.

1 October 2017 – Due date for Corporation Tax due for the year ended 31 December 2016.

19 October 2017 – PAYE and NIC deductions due for month ended 5 October 2017. (If you pay your tax electronically the due date is 22 October 2017.)

19 October 2017 – Filing deadline for the CIS300 monthly return for the month ended 5 October 2017.

19 October 2017 – CIS tax deducted for the month ended 5 October 2017 is payable by today.

31 October 2017 – Latest date you can file a paper version of your 2017 Self Assessment tax return.