KitsNBoots Grass Roots Funding Scheme

Corporation tax reform provides boost to grassroots sport

A law has been passed, which allows organisations such as ours to play a part in raising money for Grass Roots Sport.

https://www.sportandrecreation.org.uk/news/parliament/corporation-tax-reform-provides-boost-to-gras

Key Points

Each Organisation has Corporation Tax relief for any money sent to Grass Roots Clubs up to of £2500 per year per Club. This includes our organisation www.kitsnboots.com.

We collect money from Business Advertising and pass on up to £2500 per year to each Club.

Local Businesses will need to place a non-refundable advert on our website pricing page.

Your Club members have no need to be packing shopping bags. Instead, just make few phone calls to local businesses and start with the Mums and Dads who are running small businesses. Let them have your Club Email Address for the Club to receive PayPal funds so that we can verify the domain.

Here’s how it works...

1. Clubs find local Businesses to place a £17 advert on a new Club Sponsor Price tariff.
2. On creating the Advert, Your Business Sponsor enters the Club website URL and MUST enter a registered PayPal email address for the Club, which uses a registered domain, which matches the club website domain. This is essential to prevent money laundering.  You will need to pass the Club email address to your Sponsor.
3. Once the advert is placed, we receive the £17 less PayPal fees.
4. We will download all payments from our PayPal Panel and match these to the adverts placed and approved (Business PayPal Email to Club Email (from 2 above).
5. We send £10 to the Club (see breakdown below) after 2 weeks to allow for consumer cancellation regulations.
6. We monitor for each Club, how much money has been sent within a Fiscal Tax Year (6^th April to 5^th April).
7. We use our share of the money to promote Recycling for Sport throughout the UK and to continue our growth.

Here’s where the money comes from and goes to

Advertising Income                         £17.00

VAT                                                  (£02.83)

PayPal Fees (2.90%)                        (£00.49)

PayPal static fee                              (£00.30)               

Money to Club                                £10.00

Net to KitsNBoots                           £03.38 (we pay CT, Sending Fee and running costs out of this)

These types of Adverts are non-refundable to Businesses (after 14 days), because we have sent the money to the Clubs.

For any questions or an informal chat please Email us at [email protected]

Kind Regards,

KitsNBoots