Income tax relief
Find out how you can claim income tax relief on your BVA membership subscription. Save up to 40%
The BVA
The BVA is recognised as an ‘approved body’ by the HM Revenue and Customs (HMRC), which means that our annual membership subscription can be offset as an allowable taxable expense against income earned from that source i.e. veterinary related work.
A higher rate tax payer will save 40% on BVA's membership subscription, and a basic rate tax payer 20%.
Savings
If you are a UK tax payer, the membership subscription you pay is eligible for tax relief against veterinary related income. An illustration of the saving you can make is given above.
|
Category |
2011 membership cost |
Higher rate tax payer |
Basic rate tax payer |
| |
Tax relief |
Real cost |
Tax relief |
Real cost |
| UK individual |
£270 |
£108 |
£162 |
£54 |
£216 |
| Young Vet Network |
£180 |
£72 |
£108 |
£36 |
£144 |
| Concessionary |
£135 |
£54 |
£81 |
£27 |
£108 |
| Joint UK |
£378 |
£151.20 |
£226.80 |
£75.60 |
£302.40 |
| Associate |
£270 |
£108 |
£162 |
£54 |
£216 |
How to claim
Self-employed people and locums
For self-employed people, including locums, you should deduct the fees as an allowable expense before calculating your taxable profits.
Employees
If the member pays the subscription themselves, they can claim the tax back on their annual tax form.
If a practice pays membership on the employee's behalf, the practice will either have a dispensation with HMRC and therefore the employee will automatically not be taxed or, alternatively, the practice will include these fees on the employee's annual P11D tax form, in which case the member can then claim the tax back when they complete their annual tax form.
We have also produced this template claim form which can be completed and mailed to your tax office in order to submit your claim.
Further advice
The BVA legal advice line gives free advice to members on many tax matters, as most tax matters are actually governed by tax law.
The Royal College of Veterinary Surgeons and many BVA divisions are also listed as approved bodies. A full list is available at www.hmrc.gov.uk/list3
Statutory reference: Income Tax (Earning and Pensions) Act 2003, Section 344