Tax relief on SIA licence fee
SIA negotiates tax relief for security workers
The Security Industry Authority has gained agreement from the Inland Revenue for the SIA licence fee to be tax deductible – which is great news for those employed in the private security industry.
The Inland Revenue has agreed to update existing tax relief regulations so that SIA licence fees paid by workers in the private security industry will qualify for the relief.
Security workers who pay their own licence fee will be able to claim tax relief against their taxable income. For a worker paying the basic rate of tax the relief is worth £41.80, and for those on a higher tax rate the relief is £76.80.
There will also be no tax or national insurance liability where an employer is paying the fee on behalf of employees.
The Inland Revenue regulation that cover the relief is The Income Tax (Professional Fees) Order 2004 SI No.1360.
To claim the relief contact your nearest Inland Revenue enquiry centre, details of which can be found in the telephone book or on the Inland Revenue’s web site at www.inlandrevenue.gov.uk
- Timetable for SIA licensing:
- 2004 – Licensing of door supervisors and wheel clampers
- 2005 – Licensing of security guards and key holders
- 2006 – Licensing of private investigators and security consultants.