I also sponsor the shirts for our junior rugby teams and have done so a number of years. Put it through the books and don't worry about it.
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Sponsoring a football team - allowable expense?
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Originally posted by MrLoveBucket View PostI've sponsored the local rugby club where my kids play in the juniors, as well as sponsoring barrels of beer at beer festivals in aid of both the rugby club and a different charity.
I've had different advice on how to account for this from different accountants at the same firm.
The first one wasn't keen on putting it through as advertising budget as he felt having my Ltd Co name on marketing material / rugby shirts etc wouldn't really generate any new business (I was inclined to agree), so I put that particular transaction through as charitable sponsorship (no CT relief in this case)
Recently the beer barrels have been put through as advertising budget as per advice from my new accountant, which does qualify for CT relief.
Obviously in both cases I'm avoiding paying income/dividend tax on the amounts donated.
I can't vouch for the legitimacy of either approach from an HMRC perspective, but I have emails from my accountants telling me how to do this.
It’s only the local under 9s team so it’s not exactly going to be megabucks. Doubt I’d get much out of the advertising but would be nice to help them if I can.
Has given me a few things to think about, cheers.Comment
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Originally posted by northernladuk View PostI also sponsor the shirts for our junior rugby teams and have done so a number of years. Put it through the books and don't worry about it.Comment
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Originally posted by Nut View PostThanks. Do you just put it through as advertising?'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
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