SCHEDULE 2 Sporting Testimonial Payments
Finance Act 2016 (2016 c 24) | Legislation

SCHEDULE 2 Sporting Testimonial Payments

Section 12

Income tax: sporting testimonial payments treated as earnings

1

After section 226D of ITEPA 2003 (shareholder or connected person having material interest in company) insert—

“Sporting testimonial payments
226E Sporting testimonial payments

(1)     This section applies in relation to an individual who is or has been employed as a professional sportsperson (“Sâ€).

(2)     In this section “sporting testimonial†means—

(a)     a series of relevant events or activities which each have the same controller, or

(b)     a single relevant event or activity not forming part of such a series.

(3)     An event or activity is (subject to subsection (4)(b)) a relevant event or activity if—

(a)     its purpose (or one of its purposes) is to raise money for or for the benefit of S, and

(b)     the only or main reason for doing that is to recognise S's service as a professional sportsperson who is or has been employed as such.

(4)     An activity that meets the conditions in subsection (3)(a) and (b) and consists solely of inviting and collecting donations for or for the benefit of S—

(a)     is a relevant activity if it is one of a series

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