Tax & Sponsorship?? Help needed...

[dylanp]

Hi to everyone!

I'm new to this forum and also new to motorsport in general so hope someone can share some words of wisdom?

Me and my business parner are intending to race in the 750MC kit car series next season. We are both directors of a LTD company and I'm wondering if we can get the car sponsored by the company? (i.e. have our company logo & website on the car). I don't think it should be too difficult to prove that we the company will get commercial gain by having advertising on the car, but I don't really understand the implications of us directors also actually racing the car (we intend to do 4-5 races each).
If sponsorship is an option, what's the max amount that would be considered 'normal'?

Any help greatly appreciated!
Cheers,
Dylan

[dylanp]

Thank you all for your replies - albeit a little contradictory?!

Anyone else out there that has any experience on this subject - i.e. sponsoring a car from your own company..

Thanks!
Dylan

[dylanp]

Cheers Ted - done that as well!

[dylanp]

WOW!

I never imagined that there would be so many opinions on this subject..
Thank you so much - to all of you that contributed to this topic!

I don't think I've reached any decisions yet but I'm certainly a lot better informed

Cheers again!
Dylan

[dylanp]

I'll be in a Marlin 5Exi..

Look forward to meeting you next year!