Benefit in Kind

Benefit in Kind

11 April 2011 at 00:00
We’ve been lobbying on your behalf to get the Government to reverse the December 2010 Budget decision to abolish income tax relief for members of professional bodies where the employer incurs the cost of a member’s annual subscription.  I’m delighted to tell you that our efforts have been successful with the announcement last week that three concessions have been introduced. For more details you can read the full text of the Revenue e-brief here but in summary these are:
 
Where there is a statutory requirement for membership of a professional body (Chartered Engineers);
Where there is a requirement for practising certificate or licence;
and most importantly,
 
Where the duties of the employee and the duties of the employment require the exercise or practice of the occupation or profession in respect of which the annual membership fee refers and the membership of the professional body is an indispensable condition of the tenure of the employment.
We appreciate that the latter point is key for those of you who are committed to your Continuing Professional Development (CPD) and those of you who are employed by companies that realise the importance of CPD and expect you to keep up with advances in your industry sector.  Your membership of Engineers Ireland enables you to use your registered title and / or post-nominal letters to identify yourself as a fully qualified and up to date engineer to your employers and your business partners.
 
Holding our membership subscriptions in 2011 will be challenging and I want to thank you for your continued support.  Without you, a lot of what we strive to achieve on behalf of the profession would not be possible.
 
 
Sincerely,
 
 
 
John Power, Chartered Engineer
Director General 
Engineers Ireland