If you pay membership into the Institute of Biomedical Science, you can claim tax relief on your annual subscription for the last four tax years. The tax office has agreed with the IBMS to allow tax relief on subscription fees, meaning you can claim tax relief for previous years and save money in the future.
Who can claim IBMS tax relief?
Tax relief can be claimed by all members of the IBMS living in the UK.
How much IBMS tax relief can I claim?
The amount you can claim back is normally 20% of your annual membership fee. At the end of your tax rebate claim you will usually receive a new tax code which will reflect your IBMS subscription fee. This results in a continued saving for as long as you are a member, by you paying less tax through your salary.
What else can I claim for?
IBMS members can claim a tax rebate for lots of other reasons which include:
- Washing your own uniform or protective clothing
- Paying into other professional bodies like the HCPC (Health Care Professionals Council) and some Unions
- Buying equipment to carry out your duties
- Using your own home for work purposes
- Traveling to different places of work ( not normal commuting to one place )
How do I claim IBMS tax relief?
You can use our P87 employment expenses tax relief guide to find out more about what you can claim for and how to process a claim with HMRC (the tax office).
