The Book-keepers Forum (BKF)
The Book-keepers Forum (UK) -> General Book-keeping & Accounting -> Sponsership Expense
Post Info TOPIC: Sponsership Expense
NA_AA


Guru

Status: Offline
Posts: 501
Date:
Sponsership Expense
Permalink Closed

How would you account for a sponsership amount which your business pays?



__________________

Thanks, Nadia.
fabs79


Senior Member

Status: Offline
Posts: 104
Date:
Permalink Closed

I think it depends on who is receiving it. Is it a charity?

This may be useful: http://www.hmrc.gov.uk/businesses/giving/sponsorship.htm


__________________

Boomerang Bookkeeping

Fixed-fee Bookkeeping Solutions for Small Businesses from £15 per month.

FIXED FEE BOOKKEEPING  -  PAYROLL MANAGEMENT  -  SELF-ASSESSMENT TAX RETURNS  -  VAT ACCOUNTING
NA_AA


Guru

Status: Offline
Posts: 501
Date:
Permalink Closed

It is not a charity who is receiving the money - it is a health club

__________________

Thanks, Nadia.
Shamus


Forum Moderator & Expert

Status: Offline
Posts: 11981
Date:
Permalink Closed

What then is the business getting in return for it's money?

It's beginning to sound like a commercial transaction to me. i.e. Business receives membership for employee's in return for "sponsorship"?

If that's the case then the facilities must be available to all employee's to be acceptible under a voluntary agreement with HMRC via a PSA (PAYE Settlement Agreement).

Here's a link to some handy information of PSA's and how to apply for them.

http://www.hmrc.gov.uk/guidance/paye-settlements.htm

If on the other hand this is just the directors putting health club membership off against the company then it should go to drawings.

kind regards,

Shaun.

__________________

Shaun

Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
NA_AA


Guru

Status: Offline
Posts: 501
Date:
Permalink Closed

From what I understand, the business makes (small) donations to health clubs / community centre clubs - which is to encourage these centres to employ unemployed youngsters.

These centres are not charities - they operate as a Ltd company

__________________

Thanks, Nadia.
Helz


Senior Member

Status: Offline
Posts: 154
Date:
Permalink Closed

Charities often are Ltd companies. Can't imagine a health club being a charity, but community centre clubs often are.



__________________
MarkS


Expert

Status: Offline
Posts: 1501
Date:
Permalink Closed

If it is small donations/sponsorship to local health clubs/community centres then would treat as expense and allow for tax purposes



__________________

Mark Stewart CA

http://stewartaccounting.co.uk/

Providing accounting, bookkeeping, payroll and tax services to small and medium sized businesses across Central Scotland and beyond.
Wella


Expert

Status: Offline
Posts: 2256
Date:
Permalink Closed

What's the nature of the business making the donation?

 



__________________

 

 
NA_AA


Guru

Status: Offline
Posts: 501
Date:
Permalink Closed

The business is within the Healthcare sector

__________________

Thanks, Nadia.
NA_AA


Guru

Status: Offline
Posts: 501
Date:
Permalink Closed

The donation is £250 per quarter. The business provides medical equipment and staff to health centres as an when required

__________________

Thanks, Nadia.
Page 1 of 1  sorted by
 
Quick Reply

Please log in to post quick replies.
The Book-keepers Forum (UK) -> General Book-keeping & Accounting -> Sponsership Expense
Tweet this page Post to Digg Post to Del.icio.us
Members Login
Username 
 
Password 
    Remember Me  
©2007-2024 The Book-keepers Forum (BKF). All Rights Reserved. The Book-keepers Forum (BKF) is a trading division of Bookcert Ltd. Registered in England Company Number 05782923. 2 Laurel House, 1 Station Rd, Worle, Weston-super-Mare, North Somerset, BS22 6AR, United Kingdom. The Book-keepers Forum and BKF are trademarks of Bookcert Ltd. This forum is a discussion forum only. There will usually be more than one opinion to any question and any posting should not be viewed as a definitive solution. No responsibility for loss occasioned to any person acting or refraining from action as a result of any posting on this site is accepted by the contributors or The Book-keepers Forum. In all cases, appropriate professional advice should be sought before making a decision. We reserve the right to remove any postings which are offensive, libellous, self-promoting or engaged in covert marketing. We will not notify users of removals. The views expressed in the forum posts are those of the individual and do not necessary reflect or agree with those of The Book-keepers Forum. Any offensive or unsuitable posts will be removed by the moderators. Any reader of this forum can request for a post to be looked into by sending an email to: bookcertltd@gmail.com.

Privacy & Cookie Policy  About