Are there any restrictions for allowing subscriptions for the self-employed, other than proving the "wholly & exclusively" test. (I raise the question because of the restriction for allowable subscriptions to professional bodies for employees)
LC
Replies (3)
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Same applies
I would only restrict a claim for an element of the sub that was not generally allowable. The disallowable part is not disallowable because somebody is not self-employed but because the professional body applies some of the sub for an unapproved purpose.
Not on list 3?
So, for example, if we were to subscribe to the Federation of Small Businesses, not on List 3, this would be disallowable, even though wholly & exclusively for business purporses?
Not what I meant
I am not saying that.
I am saying that where a partial disallowance occurs in an employed situation because of the use to which the money is put by the recipient, then the same would hold in the case of a self employed person.
The FSB sub is allowable for the self employed but would not be for an employee. That is a different thing altogether and is due to the "necessarily" requirement in the latter case.