Sporting Testimonials And Benefit Matches

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As announced at Autumn Statement 2015, legislation was introduced to confirm that income from sporting testimonials and benefit matches for employed sportspersons, irrespective of whether they are arranged by the sportsperson’s club or by an independent testimonial committee is chargeable to income tax under PAYE.

This applies where the testimonial was granted or awarded on 25 November 2015 or later, for income from events taking place on or after 6 April 2017. An exemption of £100,000 will be available to set against testimonial income

received, either from an individual match or a series of events in a testimonial year. The exemption is available provided that there is no contractual entitlement or customary right to the sporting testimonial or benefit match, and that it is being arranged by an independent testimonial committee.

 

[SPEEDY69 1,258]

Are you suggesting that this is why PK & Lambert held theirs in March?

[SCB 0]

If speedway testimonials are making riders 100k then promoters are raking it in!

Edited April 7, 2017 by SCB

[Starman2006 2,354]

If speedway testimonials are making riders 100k then promoters are raking it in!

I took Antonio to Kilmakorpies testimonial meeting at Eastie two year ago, and up untill 7pm there must have been 300 in the stadium. So nobody would have gained out of that.. Testimonials should be banned..

Edited April 7, 2017 by Starman2006

[WembleyLion 413]

Speedway riders are not employees so does not apply to them anyway!

[Starman2006 2,354]

Speedway riders are not employees so does not apply to them anyway!

But no speedway rider should get a testimonial unless they have a career ending injury.