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Professional Fees - Clarification of tax and NICs rules
View the previous news item for P11D: Subscriptions
10 April 2008
In last week's newsletter, we included an item about the availability of tax relief for professional membership fees paid by the employer, where the particular register of the professional body is listed in section 343 of the Income Tax (Earnings and Pensions) Act 2003. We mentioned in the item that employers must report the benefit on form P11D but Class 1A NICs can be avoided if the employer knows that the employee concerned is able to claim tax relief in full.
As payment by the employer is only one of the ways in which professional fees are likely to be paid, we are reproducing below, for clarification purposes, an additional Employer FAQ that explains the subject in full.
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