Strange question, but am interested in some learned views on legitimacy of claiming VAT and possibly the expense of a sponsorship for a local sporting club through a business.
Hasten to add not somethign we are doing, but came across a chap at our local Tennis club who "claims" to be putting through his company the costs of court hire for one of our regional inter-club teams as a "sponsorship" deal. As the court hire incudes VAT he again claims to be reclaiming this VAT as they are VAT registered.
Don't know if he is then claiming the expense cost as a business expense against CT profits, but as they are a local building firm and they have their company logo/name on team kit, I was wondering what you guys would say to this whole concept?
As the shirts amount to a form of advertising, could the idea of being a team sponsor (with that advertising in return) allow for reclaiming VAT on part/all of wht they deem to be the "sponsorship" costs and could these costs be legitimately claimed as costs against profits for CT?
Way, way beyond my understanding of such things, but interested to hear what you guys/ladies think?
Ridesy
-- Edited by Ridesy on Tuesday 18th of September 2012 01:21:04 PM
-- Edited by Ridesy on Tuesday 18th of September 2012 01:21:43 PM
