HMRC/tax question

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Anonymous370
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Hey,

So I just paid for something (with my card) - a subscription fee for keeping my membership with a professional body for next year for career reasons. I got an email back of payment confirmation and it mentioned this:

This financial statement has been verified by Her Majesty's Revenue and Customs (HMRC) as being suitable for claiming purposes

So what does this mean then?:confused: I'm baffled. Is it like saying something like: this is something that definitely can be taken into account to reduce your income tax payable following this tax year? That's just my guess really, if true, then how to really proceed? How to get the HMRC to "know" about it, take it into account when they do latter on work out my tax refund after this tax year? If that makes sense.

Thx a ton!
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bamtutor
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(Original post by Anonymous370)
Hey,

So I just paid for something (with my card) - a subscription fee for keeping my membership with a professional body for next year for career reasons. I got an email back of payment confirmation and it mentioned this:

This financial statement has been verified by Her Majesty's Revenue and Customs (HMRC) as being suitable for claiming purposes

So what does this mean then?:confused: I'm baffled. Is it like saying something like: this is something that definitely can be taken into account to reduce your income tax payable following this tax year? That's just my guess really, if true, then how to really proceed? How to get the HMRC to "know" about it, take it into account when they do latter on work out my tax refund after this tax year? If that makes sense.

Thx a ton!
You need to create a Gateway account and claim online. They don't refund you, but they change your tax code so that you pay less tax each month. If you earn below the tax allowance (12500 this year) then you would get a rebate in May. https://www.tax.service.gov.uk/claim...s/claim-online
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Anonymous370
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(Original post by bamtutor)
You need to create a Gateway account and claim online. They don't refund you, but they change your tax code so that you pay less tax each month. If you earn below the tax allowance (12500 this year) then you would get a rebate in May. https://www.tax.service.gov.uk/claim...s/claim-online
Cool, thanks. Regarding the first part, I just logged into my Gateway account, now what?
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AW_1983
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(Original post by Anonymous370)
Hey,

So I just paid for something (with my card) - a subscription fee for keeping my membership with a professional body for next year for career reasons. I got an email back of payment confirmation and it mentioned this:

This financial statement has been verified by Her Majesty's Revenue and Customs (HMRC) as being suitable for claiming purposes

So what does this mean then?:confused: I'm baffled. Is it like saying something like: this is something that definitely can be taken into account to reduce your income tax payable following this tax year? That's just my guess really, if true, then how to really proceed? How to get the HMRC to "know" about it, take it into account when they do latter on work out my tax refund after this tax year? If that makes sense.

Thx a ton!
If you pay your own professional memberships AND you need your qualification for your job, you can claim tax relief on the amount. So, if you are a basic rate taxpayer and you pay £100 for your professional membership, you can get £20 back when you do your tax return (or £40 if you are a higher rate taxpayer). I paid my ICSA subs and will get 40% tax relief at the end of the year.
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Anonymous370
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(Original post by AW_1983)
If you pay your own professional memberships AND you need your qualification for your job, you can claim tax relief on the amount. So, if you are a basic rate taxpayer and you pay £100 for your professional membership, you can get £20 back when you do your tax return (or £40 if you are a higher rate taxpayer). I paid my ICSA subs and will get 40% tax relief at the end of the year.
Ah, I see, cool, thanks . What if out of work currently (when paying the subs)? Then what? Possible ? The roles I apply to generally do say they expect Part-qualified/studier. Thanks
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AW_1983
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(Original post by Anonymous370)
Ah, I see, cool, thanks . What if out of work currently (when paying the subs)? Then what? Possible ? The roles I apply to generally do say they expect Part-qualified/studier. Thanks
If you are out of work then you're presumably not paying any income tax, in which case it's pretty useless to you. But that's what the statement is issued for. Of course, the tax year doesn't end until the end of March so if you find yourself in work and earn more than £12.5k in the tax year you could use it later.

That said, most professional institutes offer a reduced rate for unemployed members so check you are paying the right subs.
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bamtutor
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(Original post by Anonymous370)
Cool, thanks. Regarding the first part, I just logged into my Gateway account, now what?
Log in from this page and answer all of the questions. It then takes you to Gateway log in and then asks you which years' professional membership you want to claim for .https://www.gov.uk/tax-relief-for-employees
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Anonymous370
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(Original post by AW_1983)
If you are out of work then you're presumably not paying any income tax, in which case it's pretty useless to you. But that's what the statement is issued for. Of course, the tax year doesn't end until the end of March so if you find yourself in work and earn more than £12.5k in the tax year you could use it later.

That said, most professional institutes offer a reduced rate for unemployed members so check you are paying the right subs.
Cool.

Yep, I checked on that, for CIMA it's known as a remission, what they call it. I asked and they reduced it down to £60 from £120, but they did say (after I asked) that I not only need to update them after I get a job but also if I get a job then I'd need to pay the remainder of the remission. So, I'm guessing the £60 (above the £60, which I've already paid) that I initially thought I'd saved myself from I'd still end up paying latter on once I'm back in work...
(Original post by bamtutor)
Log in from this page and answer all of the questions. It then takes you to Gateway log in and then asks you which years' professional membership you want to claim for .https://www.gov.uk/tax-relief-for-employees
Thanks for the link .
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