GREAT NEWS FOR MEMBERS - Save Money on your subscriptions!

The Inland Revenue has just agreed to allow tax relief on all Membership Subscription fees, including Division, Section and Special Group fees.

Also for the first time, subscriptions to ALL Society Journals are now eligible for tax relief.

Below is an extract from an Inland Revenue to the Marketing and Promotions Officer dated 4 March 2004.

“Approval under Section 18 Finance Act 1958 (now Section 344 of the Income Tax (Earnings and Pensions) Act 2003) was granted to the Society in 1959.  This means that members may claim tax relief for their annual membership subscriptions (Core subscription).  It has been decided that this approval should be extended to include any additional annual subscription for membership of a Division, Section or Special Group.  The extension also includes any additional subscription paid by members for any of the Society’s publications.

The fee payable in respect of the Register of Chartered Psychologists and the fee in respect of the Practising Certificate are allowable under Section 343 of the Income Tax (Earnings and Pensions) Act 2003.”

To claim tax relief, you should either list these payments in your annual tax return or write to your tax office with details of the total amounts paid and what they were for (for example, you could send a copy of your subscription renewal form) and your membership number.  Your tax code will be adjusted accordingly.