GBSport | Did You Know?
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Did You Know?

Did You Know?, Tax / 03.02.2017

questioniconThe income generated by a not for profit sports club fromĀ its own members is not taxable. This is known as "mutual trading", as in effect the members are trading with themselves. It should therefore be noted that non-member income is taxable income. Non-member income is defined as income generated from non-members of the club (through competitions, social events, sponsorship etc.) Please note that, for tax purposes, a non-member is someone who does not have the right to vote at the club's AGM and is not a junior member of the club.