The BWB Sports team wanted to check you were aware of the HMRC consultation launched a few weeks ago. This looks at options for introducing a new tax deduction for spending on grassroots sports. This may be of particular interest to national governing bodies, as currently this type of expenditure is not tax deductible (meaning that some NGB’s work with associated charities that fund this activity instead. The response deadline is 15 June and the consultation document can be found here:
You will see that there are two options proposed. It would be helpful to let HMRC know what your preferred option would be and also to feedback on the definition of grassroots sports at paragraph 3.6, which looks rather narrow to us.
Posted on 22/04/2016 in Legal UpdatesBack to Knowledge