Shopping & Style3 mins ago
Is tax payable?
5 Answers
I have been asked to take on the role of Secretary of my Golf Club, a 2 year appointment, which would mean that I would receive an annual Honorarium. Does anyone know if this would be taxable?
Answers
Best Answer
No best answer has yet been selected by forgetfultel. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.Yes this income should be declared. It is something the revenue hate, they would love the golf club to pay you via PAYE and do all the work etc. In reality the money they pay you should be declared in your tax return, any allowable expenses you incur can also be included in the tax return and hence offset if they truly are entirely "expenses" then the income and expense parts of the tax return mentioned above cancel each other out.
HMRC classification of honoraria.
Thanks guys. As our previous Secretary passed away in February, The Treasurer and Chairman of Competitions took on the role between them, but neither wishes to take on the post for the full term of 2 years. As all 3 of us are in receipt of Pensions, taxation would cut the Honorarium down by at least a further 22%.
Why not ask if you can have two years' free membership in lieu of the honorarium, or some equivalent length of time to avoid having to declare it? Although when I think of it if you're the type who can't sleep at night, you'd feel obliged to declare it as a Benefit in Kind. In which case, the Revenue will get either way.