Before embarking on a search for sponsorship, athletes should be aware of the potential tax implications. Any income directly derived through personal sponsorship could adversely affect the tax-free Athlete Personal Award (APA) that they receive from UK Sport.
For example, an athlete awarded a £20,000 APA who then receives an additional £3000 of personal sponsorship funds could be taxed on the ENTIRE sum and end up losing money.
http://sponsorship.uksport.gov.uk
About Me
- JT
- When I launched my first tennis and fitness club in the early eighties, some thought it exclusive and that the concept would have limited appeal.20 years on and a network of clubs throughout the UK, Continental Europe and Australia, illustrate that people are quick to recognise a great idea.By becoming a shared owner in a David Lloyd Resort you will enjoy all the exclusivity of staying at a private home, but without the running costs associated with owning a property abroad independently.David Lloyd Resorts are simply the most cost effective and secure way to own and enjoy property abroad. But that's not where the benefits end. The David Lloyd name ensures the resorts are also complemented by outstanding residents' leisure facilities, including restaurants, pools, fitness, golf, tennis and spa facilities. You can even exchange your holiday with over 2,400 other leading resorts around the world.I have invested my own money in the belief that the way we choose to spend our vacation time and own overseas property is about to change radically. My new journey is only just beginning, but what an exciting one it will be.
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