New HMRC Approval
The British Institute of Kitchen, Bedroom and Bathroom Installation announced that it had become approved by The Commissioners for HM Revenue & Customs (HMRC) under section 344 of the Income Tax (Earnings & Pensions) Act 2003.
BiKBBI confirmed that both its retail and installer members can now claim income tax rebates against membership fees, which for most would equate to a significant reductions on their annual subscriptions.
CEO Damian Walters (pictured) commented on the announcement by saying: “Our HMRC approval is great for us, because its recognition from the government of our industry placement – but more importantly to me, is that it is absolutely fabulous news for our members, because they will pay less for BiKBBI membership moving forward, at a time when we’re strengthening member benefits too.”
Damian added: “It has always been my goal to keep membership subscriptions to a minimum. I never wanted to dissuade great businesses from joining BiKBBI based on a price barrier – that would be a disaster! Our new HMRC status means that we can drive down membership fees, whilst many similar organisations introduce increases. I know that cashflow is king to the SME and therefore they should be welcoming this news with open arms.”