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Posted 13 December 2007

Rank: Horsham Forum Kingpin

Group: Moderators
Last Login: Yesterday @ 21:01
Posts: 516, Visits: 1,180

I need to pay a subscription for a professional body. Should I get my employer to pay the £125 then get taxed as a benefit? The other way is if I pay it personally then claim it as a work-related expense.

Any advice greatly appreciated

www.hiddenhorsham.co.uk

Post #2524

DotNetWebs

Posted 14 December 2007

Rank: Horsham Forum Kingpin

Group: Administrators
Last Login: Yesterday @ 22:39
Posts: 781, Visits: 1,753

I'm certainly no expert but I do my own tax returns and in the past have paid this sort of thing out of my own funds and then claimed it on my tax return. If you are PAYE should be able to claim it via your tax code.

It's probably worth giving your tax office a call. (I have had a few dealings with them and they don't usually bite w00t

)

--------------------

www.visithorsham.co.uk | www.virtualhorsham.co.uk

Post #2527

taxman

Posted 30 December 2007

Rank: Horsham Forum Newbie

Group: Forum Members
Last Login: 31 December 2007
Posts: 6, Visits: 32

If your employer pays the subscription (and you are a higher rate taxpayer) then you will pay £50 tax on the benefit (£125 @ 40%). If you pay the subscription personally and claim it as an expense then it will cost you a net £75 (again assuming you are a higher rate taxpayer) as you will get 40% tax relief ie £125 - £50 = £75.

Post #2561

Posted 31 December 2007

Rank: Horsham Forum Kingpin

Group: Moderators
Last Login: Yesterday @ 21:01
Posts: 516, Visits: 1,180

Thanks Taxman, looks like I need to persuade my employer....

www.hiddenhorsham.co.uk

Post #2562

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