Agents have been reminded they can claim tax relief on the membership fees they pay to professional bodies that are approved by HM Revenue and Customs.
Propertymark has given an end-of-financial-year reminder to ARLA and NAEA members that both are on the HMNRC list as Residential Letting Agents Association of and Estate Agents National Association of.
It means members who pay their own fees are eligible to make a claim online, by post, or through their Self-Assessment tax return based on the rate at which they pay tax.
Claims can be backdated by up to four years.
Propertymark has over 17,500 members who are supported through qualification, training and Continuing Professional Development, and kept up to date with the latest legislation and regulation changes.
They are also able to display the Propertymark Protected logo, which is widely recognised by consumers as a symbol of credibility and financial protection.
Chief executive Nathan Emerson says: “There are many benefits to being a member of Propertymark including the tax relief that agents can claim on their membership fees as a result of both being HMRC-approved professional bodies.
“Claiming for a tax deduction for memberships costs can often be overlooked and could mean that you are paying more than you are required to, so we would encourage all members to take advantage of this opportunity.”
A list of ARLA Propertymark and NAEA Propertymark members, and details of how to join, is available at the association’s website.