i have a 1 employee (me) ltd company offering mechainical and driver(hgv) services to the motorsport industry mostly and was looking at the possibilty of sponsoring a car (mostly driven by myself) but i am getting confused if this would be a deductable expence. would the fact that the ltd is directly involved in the building/transporting and running of racing cars allow the sponsorship costs to be claimed or could the car be purchased, maintained and entered by the ltd company and the drive in that car be offered to myself for free or a small fee ?
16th Nov 2019
Motorsport Sponsorship Query
Claiming motorsport sponsorship or car entry costs as an ltd in the motorsport buisiness
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