Subscription rates

The answers to frequently asked questions on subscription rates.

 
Why has my subscription increased?
Why is the membership subscription rate for Fellows higher than the subscription rate for other categories?
I cannot afford the membership subscription. What are my options?
I am retired so am I entitled to receive a discount?
Why have India and China been excluded from having reduced rates?
Why can’t I pay by monthly Direct Debit?
Can my employer pay my subscription fee?
Can I pay in a currency other than Sterling?
How can I receive a receipt for my payment?
Can I claim tax relief?

 

Why has my subscription increased?

The trustees took the difficult decision to increase subscriptions because we need to move ourselves out of the current position where our operating costs exceed the subscription revenue. We have made a number of cost savings, but in order to further reduce the gap between income and expenditure we have no choice but to increase our subscriptions.

 

Why is the membership subscription rate for Fellows higher than the subscription rate for other categories?

The fee structure for Fellows was revised to rationalise the charging related to Registration with Engineering Council and encourage applications for Fellowship from members who choose not to hold UK Registration.

Fellows are asked to pay a small amount more annually than members because they enjoy a special level of service from the Institution.  There is a member of staff dedicated to the Fellow community, and prestigious networking events are held to allow newly elected Fellows to meet each other and eminent senior members of the IET.

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I cannot afford the membership subscription. What are my options?

If you cannot afford the standard fee, please check to see if you are eligible for a reduced membership subscription rate. If you do not qualify for a reduced rate or cannot afford the membership fee even after a reduction, please contact IET Connect for financial advice and assistance.

 

I am retired so am I entitled to receive a discount?

A. You need to be retired from full-time employment, be over 65 years of age and have had ten years or more continuous membership of the IET to be eligible for this discount. You can apply either in writing or by calling Membership Services on +44 (0)1438 765678.

Once you are registered as eligible for the discount it will be applied each year.

 

Why have India and China been excluded from having reduced rates?

The Board of Trustees has agreed to set membership subscription rates in local currency for the Institution's priority areas of India and China so as to offer local subscription rates which reflect the economic circumstances and inflation in these countries.

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Why can’t I pay by monthly Direct Debit?

Although Direct Debit is the IET’s preferred method of payment, we do not offer monthly Direct Debit. Monthly payments would attract much higher processing fees. We are trying to keep the overall processing costs to a minimum to ensure that your membership fees are put to best use.

 

Can my employer pay my subscription fee?

If your employer is willing to pay for your subscription, they can complete their payment details on your renewal notice/application form or pay over the phone by contacting Membership Services on +44 (0) 1438 765678.

Alternatively, you can pay your subscription. You may be able to claim the fee from your employer by going to My IET and accessing your online receipt once your payment has been processed.

Please note that you would not be eligible to claim tax relief if your employer pays your subscription fee.

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Can I pay in a currency other than Sterling?

We accept payment in a variety of currencies. For more information, please visit the pay locally section of the website. Please note all credit card and Direct Debit transactions are taken in Sterling.

 

How can I receive a receipt for my payment?

In an effort to reduce costs and be more environmentally friendly we are no longer posting out receipts to members but making them available to download from the website.  They can be downloaded from www.theiet.org/receipt.  Receipts will be available shortly after your payment has been processed.

Direct debit payments: within one week of the collection being made to allow for clearance of funds.

Credit or debit card payment: within 24 hours of processing.

Sterling cheque or banker’s draft: within 24 hours of processing.

Payment through local IET office or representative: up to two months due to the time it takes for these payments to reach the IET.

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Can I claim tax relief?

IET members who are employed and pay UK income tax may claim tax relief on subscriptions to periodicals and their membership fees as expenses of their profession in the tax year in which these expenses are incurred. Please note you may not be eligible to claim tax relief if your subscription is paid by your employer. 

http://www.hmrc.gov.uk/incometax/relief-subs.htm