Sponsoring myself for charity events

[Company Man]

What's the score on My Limited sponsoring me to participate in charity fund raising events like marathons/parachute jumps etc. ? My Limited is a standard set up, me & the missus are the only shareholders, minimum salary maximum dividends. Company does contribute to charities but less than £500 p.a.

Is there a limit ? what if I get no other sponsorship ? do I have to promote the company ? can I claim expenses from My Limited ? can My Limited sponsor nearest and dearest ? Is all sponsorship free from Corp Tax ? etc. etc.

Nothing dodgy, it's just I'm looking for an efficient and legitimate way to allow me and family members to participate in events without the hassle of collecting sponsorship from neighbours and work colleagues.

Thanks in advance. All advice gratefully received.

[Wanderer]

I'm looking for an efficient and legitimate way to allow me and family members to participate in events without the hassle of collecting sponsorship from neighbours and work colleagues.

My understanding is that it is supposed to be to promote your company. If you were a one man and a spouse LTD company the way most of us are then it may be difficult to justify spending money on sponsorship (effectively advertising) that isn't going to actually benefit your company very much. You would have to make a strong case to prove that it isn't just subsidising a series of jollies for yourself and connected people and no real benefit to the company.

[SueEllen]

Best thing to do is get the advice of your accountant.

However most people have discovered that it's better for them to personally pay any charity donations.

[FarmerPalmer]

I believe that a company may make donations to a charity and write that off against corporation tax. However to provide funds to facilitate a charity fund raiser may not be tax deductable.

[northernladuk]

What's the score on My Limited sponsoring me to participate in charity fund raising events like marathons/parachute jumps etc. ? My Limited is a standard set up, me & the missus are the only shareholders, minimum salary maximum dividends. Company does contribute to charities but less than £500 p.a.

Is there a limit ? what if I get no other sponsorship ? do I have to promote the company ? can I claim expenses from My Limited ? can My Limited sponsor nearest and dearest ? Is all sponsorship free from Corp Tax ? etc. etc.

Nothing dodgy, it's just I'm looking for an efficient and legitimate way to allow me and family members to participate in events without the hassle of collecting sponsorship from neighbours and work colleagues.

Thanks in advance. All advice gratefully received.

I thought you were aware of rules around giving charity as you asked people to give to charity in one of your other threads?

http://forums.contractoruk.com/accou...imited-co.html

[TheFaQQer]

Don't do it as sponsorship, just make a donation.