The Institute of Fundraising has informed its members that they might be eligible to claim tax relief on their individual membership subscription fee. For example, a basic rate taxpayer paying the £87 subscription rate for a full membership should be able to reclaim the £21.75 tax element of this amount.
The Institute’s Membership team emailed members this morning to let them know that the Institute is now included on the list of professional bodies for which HM Revenue & Customs (HMRC) will allow deductions for fees and subscriptions.
The Institute can’t deal with any individual tax queries so suggest that those members who normally complete a Tax Return should include their membership details in the ‘Additional Information’ section in order to get the tax relief.
Those who do not complete a Tax Return will need to contact their local tax office in order to claim back any tax paid.