Q. I am a member of the APM (Association for Project Management) and my company pays my membership fees to the APM on my behalf. Does this payment have to be reported on the form P11D? If so, do I pay tax on the membership fee?

A. If your company does not already have a "dispensation" from reporting P11D business expenses for 2013/14 it could apply for one by 5 April 2014 using form P11DX or on the HMRC website. That dispensation will cover payment of the APM fees as the APM is on HMRC's approved list of professional bodies.

If the dispensation for 2013/14 is not acquired the APM fee should be reported on the form P11D for that tax year. You should then enter the P11D figures on your 2013/14 tax return and make a claim on the same return to set the APM membership fee against your taxable earnings. As a consequence of that claim on your tax return you should not pay tax on the membership fee.

Q. I have four rental properties, and I have recently remortgaged one property to provide funds for my son's education. Can I set the professional fees and charges connected with this re-mortgage against my letting income?

A. Normally fees connected with obtaining finance for a business (including a lettings business) are allowable against the profits of that business, but in this case you didn't use the additional funds for the purposes of the business, but extracted them for your own use. Therefore the fees and charges connected with the new mortgage can't be set against your letting income.