BoxRec

I vaguely remember from coaching youth football that when sponsoring a team the business doing so could reclaim certain monies from the tax man .

Could anyone elaborate further ?

Basically if a Sponsor was to pay for a New pro's equipment (Shorts , Gloves etc ) in exchange for their logo on the shorts and a mention in any publicity , what can they claim back ?

Im trying to persuade someone to do this so could do with being sure of the facts before i really push it

Ok ...

So if im understanding right then it must come out of profits of the business rather than being just spent and then including that as part of the outgoings before profits .

And have to be seen as purely for business reasons , ie got to show that theres an obvious gain to be made by doing this .

Still cant seem to see what exactly then can claim back , although if i remember rightly its just the VAT of said sponsorship that can be claimed back .

damianhucker1 wrote:Ok ...

So if im understanding right then it must come out of profits of the business rather than being just spent and then including that as part of the outgoings before profits .

And have to be seen as purely for business reasons , ie got to show that theres an obvious gain to be made by doing this .

Still cant seem to see what exactly then can claim back , although if i remember rightly its just the VAT of said sponsorship that can be claimed back .

Sponsorship is a gamble that you take in the hope of it leading to more business. It's not something that you do and you'll get a definiete return for.

columbo wrote:

damianhucker1 wrote:Ok ...

So if im understanding right then it must come out of profits of the business rather than being just spent and then including that as part of the outgoings before profits .

And have to be seen as purely for business reasons , ie got to show that theres an obvious gain to be made by doing this .

Still cant seem to see what exactly then can claim back , although if i remember rightly its just the VAT of said sponsorship that can be claimed back .

Sponsorship is a gamble that you take in the hope of it leading to more business. It's not something that you do and you'll get a definiete return for.

Im hardly going to say that to a sponsor though mate

damianhucker1 wrote:

columbo wrote:

damianhucker1 wrote:Ok ...

So if im understanding right then it must come out of profits of the business rather than being just spent and then including that as part of the outgoings before profits .

And have to be seen as purely for business reasons , ie got to show that theres an obvious gain to be made by doing this .

Still cant seem to see what exactly then can claim back , although if i remember rightly its just the VAT of said sponsorship that can be claimed back .

Sponsorship is a gamble that you take in the hope of it leading to more business. It's not something that you do and you'll get a definiete return for.

Im hardly going to say that to a sponsor though mate

Na I understand. Without meaning to sound rude though, they shouldnt be so naive to think there's a definiete return in it! That isnt how business works full stop.

Columbo , No one is suggesting that anyone thinks that mate .

Im just looking for ways to sound more convincing in persuading someone to sponsor one of my boxers who is now turning pro , i have built him up from scratch and will still have limited involvement in him as a pro , so wherever i can help him out i will try to do so .

damianhucker1 wrote:Columbo , No one is suggesting that anyone thinks that mate .

Im just looking for ways to sound more convincing in persuading someone to sponsor one of my boxers who is now turning pro , i have built him up from scratch and will still have limited involvement in him as a pro , so wherever i can help him out i will try to do so .

I wasnt saying you thought that mate but I dont know maybe your potential sponsor might.

damianhucker1 wrote:Columbo , No one is suggesting that anyone thinks that mate .

Im just looking for ways to sound more convincing in persuading someone to sponsor one of my boxers who is now turning pro , i have built him up from scratch and will still have limited involvement in him as a pro , so wherever i can help him out i will try to do so .

Exposure. Do you have any other examples of where previous sponsorship has added value to a business?

Or sell him on the journey.

DMA1987 wrote:

damianhucker1 wrote:Columbo , No one is suggesting that anyone thinks that mate .

Im just looking for ways to sound more convincing in persuading someone to sponsor one of my boxers who is now turning pro , i have built him up from scratch and will still have limited involvement in him as a pro , so wherever i can help him out i will try to do so .

Exposure. Do you have any other examples of where previous sponsorship has added value to a business?

Or sell him on the journey.

Yeah getting to hang around with a pro boxer might entice people in itself.