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Company paying for membership? Any tax advantage?

  • 16-12-2015 11:48am
    #1
    54and56
    Registered Users, Registered Users 2 Posts: 7,705 ✭✭✭


    Hi all,

    I'm thinking of joining a commercially run golf club i.e. it's not a members "club", it's run by a Limited company who charge annual fee's to members I guess in the same way gyms do.

    Is there any advantage to having my company pay the annual sub? I assume the sub is considered Benefit In Kind and therefore taxable as income (and netted off my monthly salary?) but perhaps the VAT element of the fee could be reclaimed by the company and not form part of the BIK calculation?

    Is there any other reason or advantage for having the company pay the annual sub?


Comments

  • #2
    CMOTDibbler
    Registered Users, Registered Users 2 Posts: 7,813 ✭✭✭CMOTDibbler


    Je_suis_Jean wrote: »
    Hi all,

    I'm thinking of joining a commercially run golf club i.e. it's not a members "club", it's run by a Limited company who charge annual fee's to members I guess in the same way gyms do.

    Is there any advantage to having my company pay the annual sub? I assume the sub is considered Benefit In Kind and therefore taxable as income (and netted off my monthly salary?) but perhaps the VAT element of the fee could be reclaimed by the company and not form part of the BIK calculation?

    Is there any other reason or advantage for having the company pay the annual sub?

    I don't think VAT is reclaimable in those circumstances. It's not wholly and necessarily for the purposes of the business.


  • #3
    54and56
    Registered Users, Registered Users 2 Posts: 7,705 ✭✭✭54and56


    CMOTDibbler wrote: »
    I don't think VAT is reclaimable in those circumstances. It's not wholly and necessarily for the purposes of the business.

    Hi CMOTDibbler, thanks for the response, I was afraid that might be the case :(

    Thanks also for your input on the other thread I started a couple of weeks ago. I see it's gotten sidetracked with a discussion about course reviews etc but prior to that I got a lot of good info and I'm close to making a decision as a result.


  • #4
    CMOTDibbler
    Registered Users, Registered Users 2 Posts: 7,813 ✭✭✭CMOTDibbler


    Je_suis_Jean wrote: »
    Hi CMOTDibbler, thanks for the response, I was afraid that might be the case :(

    Thanks also for your input on the other thread I started a couple of weeks ago. I see it's gotten sidetracked with a discussion about course reviews etc but prior to that I got a lot of good info and I'm close to making a decision as a result.
    You're welcome. Sorry for being the bringer of bad tidings.

    Good luck with your decision.


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