Commentary

B2.471A Sporting testimonials

Business tax
Business tax | Commentary

B2.471A Sporting testimonials

Business tax | Commentary

B2.471A Sporting testimonials

Finance Act 2016 introduced legislation relating to sporting testimonials1 which were made public on or after 25 November 2015 where the related events or activities take place on or after 6 April 20171. The main purpose of the legislation was to stipulate whether the earnings from such testimonials are taxable as employment income. This is covered in E4.469. However, the legislation also provides for corporation tax relief for sporting testimonial payments and associated PAYE payments where they meet certain criteria.

Thus where a company is the controller of the testimonial and makes a payment out of the proceeds

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial