This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet

Giving sports prize money to charity

darts
Posts:1
Joined:Fri Apr 01, 2016 12:28 am
Giving sports prize money to charity

Postby darts » Fri Apr 01, 2016 12:45 am

Greetings all.
I play darts and will be entering competitions where the prize money is typically £500 to £1000 to the winner, reducing to £50 for lower placings. Entry fees for the competitions are anything from £5 to £25.
I wish to donate all winnings to charity. My questions are:

1. Are the winnings taxable against me? Back in the 1980's (yep been playing that long) HMRC were actively chasing people for tax on tournament winnings - skill not luck etc. Have things changed?
I am not asking if the charity has to pay tax, I just wish to cover myself against a tax bill after I have passed the money to the charity.

2. If they are taxable against me, can I donate the whole lot to charity by having the winners cheque made payable to the charity thus not having any money pass through my hands.

Many thanks in advance.

pawncob
Posts:5090
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: Giving sports prize money to charity

Postby pawncob » Tue Apr 05, 2016 4:31 pm

Unless you're a professional darts player, the simple answer is no you don't pay tax on winnings.
Having the cheque made out to the charity should avoid your liability.
With a pinch of salt take what I say, but don't exceed your RDA


Return to “General”