 | Home > Off Topic > Tax and Sponsorship |
 
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| Caterham Member Since: 06 Nov 2008 Location: Birmingham Posts: 6264   
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just wondering if there's anyone that can advise on whether sponsoring someone is deemed tax deductible as with donating to a charity?
basically my two daughters swim and I figured if possible it would be cheaper for them to fund the activities themselves with me sponsoring them 
could save me quite a bit 
any thoughts welcomed. 
oh - almost forgot to mention if anyone wants to sponsor them for me that would save me even more  |
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22nd Apr 2017 9:32am |
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| Rashers Member Since: 21 Jun 2015 Location: Norfolk Posts: 3335  
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Agree with walfy completely.
It is also worth noting that Acountants get it wrong sometimes. Ask Rupert Grint and Jimmy Carr for details  |
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22nd Apr 2017 11:40am |
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| Caterham Member Since: 06 Nov 2008 Location: Birmingham Posts: 6264
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Oh.
I thought this might be a simple yes or no with an upper limit? Doh.  |
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22nd Apr 2017 12:14pm |
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| Sulisuli Member Since: 30 Oct 2016 Location: South west Posts: 4789 
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Is there not a way of making a gift to children each year without having to pay tax on it? Sure i read it somewhere. 2015 HT XS 90
2008 SVX 90 2000 XS TD5 90 |
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22nd Apr 2017 2:30pm |
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| ARC99 Member Since: 19 Feb 2013 Location: North Yorkshire Posts: 1831 
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What make your children a charity with all the rigmarole that goes with it just to save 20% ?
Come on get real these are your children and you take responsibility for them when you agree to have them. You want the tax payers of this country to support you children's swimming by you not paying the full amount. The next thing you will want is to be a M.P. Don't make old people mad. We don't like being old in the first place, so it doesn't take much to  us off.
Richard |
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22nd Apr 2017 4:54pm |
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| Caterham Member Since: 06 Nov 2008 Location: Birmingham Posts: 6264
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/\. I've probably mis-interpreted your response so won't bother making a direct reply.
We all know there's plenty of companies out there sponsoring all sorts of different sports, if this is a non tax deductible expense then I might as well take advantage of it.....i'm assuming there's no restrictions on whether the person being sponsored is related or not. Oh BTW I'd love to be PM.  |
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22nd Apr 2017 8:19pm |
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| JAY BOY Member Since: 04 May 2010 Location: Not here Posts: 1706 
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Caterham
I presume you have your own business. There are a few routes that you could go down, feel free to PM me and i can explain. Jason |
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22nd Apr 2017 8:39pm |
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| Sulisuli Member Since: 30 Oct 2016 Location: South west Posts: 4789
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Caterham Jay Boy is happy to PM you
whereas ARC99 wants to MP you wow this is getting more complicated than a tax fiddle ha ha 2015 HT XS 90
2008 SVX 90 2000 XS TD5 90 |
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22nd Apr 2017 10:13pm |
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