Newsletter Spring 2014

Deductible subs

HMRC has updated its list of professional subscriptions which can be deducted from taxable income. For some reason lost in the mists of time, this is called ‘List 3’.

If your professional body is on List 3, you can claim your annual subs as a deductible expense. If it’s not, you can’t claim the cost. Trade Unions are not on the list, and neither are golfing organisations.

The Professional Golfers’ Association recently asked to be included on List 3, but they were turned down.