Professional membership subscriptions

[Staple]

Are annual subscriptions paid by an individual for membership of a professional body an allowable expense for income tax ?

 

[T McGibney]

In general, yes, but watch the exceptions: https://mcgibney.ie/2011/03/25/revenue-abandon-lenihans-professionals-tax-plan/

 

[Staple]

Thanks Tommy for the quick reply. In my case, i now pay my own membership subscription to the ICAI but didn't think of claiming this as an expense when submitting my income tax return. I wasn't sure if it was allowable.

 

[Joe_90]

The question wholly, exclusively and necessarily in the performance ... arises.

So is the subscription required for you to do your job. So take an accountant working for a practice, they are required to be a qualified accountant but not necessarily to be a current paid up member to do their job so there is a conflict.

I think most place pay the professional fees and they are not subject to BIK.

Www.revenue.ie/en/tax/it/leaflets/benefit-in-kind/other.html#section19

Posts crossed but I'm not sure that the fact that it's not subject to BIK is the same as it being an allowable expense for PAYE.

 

[T McGibney]

So is the subscription required for you to do your job. So take an accountant working for a practice, they are required to be a qualified accountant but not necessarily to be a current paid up member to do their job so there is a conflict.

The Institutes are quick to cancel memberships when subs go unpaid and it is certainly arguable that loss of membership would be injurious to an accountant's capacity to do their work.