How to Claim Tax for Professional Subscriptions and Exams

How to Claim Tax for Professional Subscriptions and Exams

<p>How to Claim Tax for Professional Subscriptions and Exams</p><p>The tax system is complex and ever changing. At the time of writing we believe the following process to be correct. However, please do always contact HM Revenue & Customs (HMRC) if you have any queries. </p><p>How long do I have to claim?</p><p>You can claim tax back on professional subscriptions within 4 years of the end of the tax year that you spent the money.</p><p>How do I claim?</p><p>There are several ways:</p><p>AAGBI has a form which you can Download</p><p>If you already fill in a Self-Assessment tax return then claims should be made on this.</p><p>You can use a P87 to claim tax relief (current tax year)/rebate (previous tax years) for professional subscriptions less than £2500. A P87 can be filled in online or filled in and sent in the post. </p><p>If your claim is more than £2500 you will need to fill in a Self-Assessment tax return.</p><p>Is my professional organisation approved by HMRC?</p><p>HMRC hold a list of approved professional organisations with tax-deductible fees. The AAGBI is on the list.</p><p>How will I be reimbursed?</p><p>This depends on how much you are owed. HMRC will make adjustments to your tax code for the current year if your claim is less than £2500 for the tax year. If your claim is more than £2500 for the tax year tax code adjustments will be made for the current and next tax years. You will also need to fill in a tax return. </p><p>How can I contact HMRC? Contact information for HMRC can be found here.</p><p>How do I claim tax for my FRCA exam fees?</p><p>Guidance from the Royal College of Anaesthetists (RCoA) can be found here. </p><p>The RCoA have created a template letter for exams which can be sent to HMRC. </p><p>References</p><p>All references used to produce this guidance have been hyperlinked throughout. </p><p>Satinder Dalay, ST6 Anaesthetics GAT Committee Elected Member</p>

View Full Text

Details

  • File Type
    pdf
  • Upload Time
    -
  • Content Languages
    English
  • Upload User
    Anonymous/Not logged-in
  • File Pages
    2 Page
  • File Size
    -

Download

Channel Download Status
Express Download Enable

Copyright

We respect the copyrights and intellectual property rights of all users. All uploaded documents are either original works of the uploader or authorized works of the rightful owners.

  • Not to be reproduced or distributed without explicit permission.
  • Not used for commercial purposes outside of approved use cases.
  • Not used to infringe on the rights of the original creators.
  • If you believe any content infringes your copyright, please contact us immediately.

Support

For help with questions, suggestions, or problems, please contact us