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Could a charity fund raiser be treated as a benefit in kind?
Not a specific FAC question, but hoping one of the accountants out there might give us a steer. We are putting together a team to participate in a charity bike ride form Bristol to Bordeaux next year. We need to register each team member be paying a sum up front and then all sponsorship goes to the good cause rather than for a weekend break in the south of France. However, we'd like the business to pay for our employees, but wouldn't want them to get stung at the end of the tax year if this could be treated as a benefit in kind.
Any thoughts welcomed...and sponsorship, but that can wait until next year! ;-)
Any thoughts welcomed...and sponsorship, but that can wait until next year! ;-)
I’m thankful for any guidance
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Inappropriate?You should check this with your own accountants but if you (the business) is submitting a team I don't think it should be a benefit in kind.
I would suggest that you ask for the entry forms yourself, have them sent to the firm. Once the employees have completed them send them back (keep a copy of the letter) with a company cheque to cover the total cost of entering the employees.
I'm doing a sponsored bike ride for Help for Heroes and my company has paid the entry fee and I won't be entering it on my P11D! So at least I practise what I preach.
I’m not looking forward to cycling in the winter
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this answers the question
