FFI charges are tax deductible, says HMRC

Source: on 2014-07-03 14:55:06

FFI charges are tax deductible, says HMRC3 July 2014Businesses charged by the HSE under its Fee for Intervention (FFI) scheme can offset the fees against corporation tax. The tax deductible nature of FFI charges has been confirmed in a new statement by HM Revenue & Customs (HMRC). HMRC's clarification came in a belated reponse to a request in November 2012 by Health and Safety at Work's sister magazine Taxation. At the time, the  department responded that, since FFI had been in operation for only two months, it was still considering its tax implications.  Last month, HMRC finally notified Taxation magazine that FFI payments would be governed by its guidance BIM42515 on fines and administration charges. Add new comment

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