Sponsorship - Contractor UK Bulletin Board

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Clare@InTouch replied

12 October 2010, 12:44
It would be allowable if you can prove it's for the purposes of the trade, but not if it's deemed to be personal. HMRC will look into your motive for making the payment, and as it's sponsoring a friend for an event that's unlikely to get you extra business it would be hard to argue that it's business related. Have a read through their guidance here:

Specific deductions: advertising: sponsorship: purpose
Leave a comment:
aceboy started a topic Sponsorship

12 October 2010, 12:11
Sponsorship

Afternoon, I have this friend who is a budding motorcycle racer, he is doing his first season. As with any motorsport it is often cost prohibative.....so he is looking for sponsorship

I wondered if I (my co ltd) could sponsor him, would there be any cap on the amount and how would I account for it?

Thanks
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