Income Tax: update to treatment of income from sporting testimonials
This tax information and impact note applies to employed sports persons who receive income from a sporting testimonial or a benefit match which is non-contractual or non-customary.
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Details
This measure confirms that all income from sporting testimonials and benefit matches for an employed sports person will be chargeable to tax, and National Insurance contributions (NICs) subject to a ‘one-off’ exemption of £100,000 of the income received from events held during a single testimonial or testimonial year.
Update
On 2 November 2017 the government announced that the introduction of the National Insurance Contributions Bill will be delayed.
The introduction of employer Class 1A NICs on Sporting Testimonial payments above £100,000 will now take effect from 6 April 2019 rather than 6 April 2018.
Updates to this page
Last updated 9 November 2017 + show all updates
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Updated to mention the introduction of employer Class 1A NICs on Sporting Testimonial payments above £100,000 will now take effect from 6 April 2019.
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First published.