Deduction for fees and subscriptions paid to professional bodies or learned societies

From time to time HMRC update their list of approved professional bodies, (approved by Commissioners for HMRC up to 28 February 2013) which details deduction for fees and subscriptions paid to professional bodies or learned societies.

The list shows:

It shows:

• professional bodies and learned societies, approved by HM Revenue & Customs (HMRC) for the purposes of Section 344 ITEPA 2003 (formerly S201 ICTA 1988)
• details of statutory fees or contributions allowable for earlier years 2003-04 onwards are within S343 ITEPA 2003 (for earlier years S201(2) ICTA 1988)

What is allowable

A statutory fee or contribution shown in the list is allowable where employees:

• pay this out of their earnings from an employment

and

• are required to pay this as a statutory condition of following their employment.

An annual subscription to a body shown in the list as approved by HMRC is allowable where:

• employees pay this out of their earnings from an employment

and

• the activities of the body are directly relevant to the employment.

The activities of a body are directly relevant to an employment where the performance of the duties of that employment:

• is directly affected by the knowledge concerned

or

• involves the exercise of the profession concerned.