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Will funds obtained by crowdsourcing to help athletes be eligible for gift aid relief?
My son a pole vaulter and I recently attended a seminar presented by a charity to assist young athletes obtain funding. The funds would be raised through crowdsourcing and would enable them to participate in their chosen sport. The speaker said that gift aid relief could be obtained and would benefit the athlete. The charity would retain about 5% of funds raised to cover its costs but the remainder would be passed to the athlete.
The speaker stated categorically that parents could use this method to pay for their child’s training costs and obtain gift aid relief.
Do readers consider this concept to have legs or does it fall foul of the “benefits associated with a gift” restrictions?
I look forward to replies.
Query 18 711– Gift Horse.
Reply by Putin
If registered with HMRC the charity should be able to receive...
