Is there a Tax reduction for professional magazine subscriptions

Fry_2

Hi,

I know you can get a income tax reduction for membership to a professional body but how about reading material?

I subscribe to two seperate magazines (3 year subscriptions) that provide news and articles on my industry that I am directly employed in.

I had heard from a friend of a friend that it was possible to write to the Inland Revenue and get this allowance deducted from my PAYE (I do not complete a Self Assessment but I am sure he day will come) but when I spoke to my local office, they were very unhelpful.

Any advice would be superb. Thank you!

Rafter

Sounds like an allowable business expense to me, as long as they are trade journals or something that you really wouldn't read if it was'nt related to your work. Newspapers aren't generally allowed for example - even the FT!

The inland revenue are dropping 1000's of people out of filling out self-assessments so you probably won't get a form for a while.

Calling this time of year is probably why you have had problems - they are inundated with queries about late filing penalties etc.

Usually the offices are really helpful though - or the national helpline.

Just call them again and see if you get a better person. Say you have some personal work related expenses and you would like your tax code to be adjusted as a result. By law they have to ensure you don't pay too much tax.

Good luck.

R.

WHA

If you were self employed, then as long as the material was relevant, you could claim under the "wholly and exclusively" rule.

BUT

As you are an employee, the rule is "wholly, exclusively and necessarily" - the necessarily bit would mean that you were actually required, as part of your employment contract, to incur the expenses. This is hard to prove unless the employment contract itself stated that you had to do so.

I don't really think that the IR will allow you claim the expenses.

Jettycat

The Inland Revenue give a list of subscriptions and memberships allowable as an Employment expense here.

Either write or phone until you get someone helpful and they will sort it out!

Fry_2

I'll speak to my local tax office now that I have a greater idea of the terminology and possibilites. I will also wait a while until it calms down a bit for them regards workload.

Thank you to all for answering. Much appreciated.

stuwilky

WHA wrote:

If you were self employed, then as long as the material was relevant, you could claim under the "wholly and exclusively" rule.

BUT

As you are an employee, the rule is "wholly, exclusively and necessarily" - the necessarily bit would mean that you were actually required, as part of your employment contract, to incur the expenses. This is hard to prove unless the employment contract itself stated that you had to do so.

I don't really think that the IR will allow you claim the expenses.

I get loads of professional memberships - none are "required" as part of my job. But they help.

For example I am a member of the CIPD, it isnt a requirement and frankly no one would bat an eyelid if I wasnt, but I get my tax back.