HMRC Tax Relief on Professional Fees: Who Qualifies and What You Get
Pharmacists can claim tax deductions on professional subscriptions to help lower their tax bill.
This scheme allows certain professionals to claim a tax deduction on the costs of their mandatory professional subscriptions.
Who it's for
This is specifically for pharmacists who pay their own professional fees to maintain their registration.
What you get
You can receive a tax deduction on the money you spend on professional subscriptions. This effectively lowers your taxable income, which can result in a tax rebate.
What it costs you
There is no direct monetary cost to apply, but you must complete the necessary paperwork. This involves either submitting a P87 form or completing a self-assessment tax return.
The catch to know
You cannot claim for every professional organization. You can only claim relief if the body you are paying is on the official list approved by HMRC.
How to apply
- Check that your professional body is on the approved list.
- Gather your receipts or proof of payment for your fees.
- Complete a P87 form or use your self-assessment tax return.
- Submit your claim through the official portal: https://www.gov.uk/tax-relief-for-employees/professional-fees-and-subscriptions