Tax relief
Did you know that if you are a UK tax payer and pay your own membership fees, you may be entitled to claim tax relief on your subscription?
By claiming tax relief you are able to reduce the cost of your membership. For example if you are a basic rate tax payer (20%) you could reclaim tax of £47.80 on a fee of £239.00. Please note that your eligibility and the amount of tax relief that you will be able to claim will be subject to your own personal circumstances.
The CIOB appears as an approved body in List 3 on page 23 of 128:
Visit: http://www.hmrc.gov.uk/list3/list3.pdf
In order to claim tax relief, you will need to download a receipt for your membership fee from the Members’ Area of the CIOB website. You can then submit this to the tax office with your tax return form. The tax relief reference that you need is CI/SUB/248NC.
If you don't complete a tax return, you may still be able to make a claim by writing or phoning your local tax office (your employer will be able to give you the address and reference). For full details visit www.hmrc.gov.uk/incometax/how-to-get.htm
Self-employed members can claim their annual CIOB membership subscription as a trading expense.