Overseas aspects of motorsport

Specialist motorsport accountants, Northampton chartered accountants Harris & Co, point out that motorsport is an international business and that often overseas issues impact on motorsport taxation. "Many people in motorsport end up having some form of overseas aspect to their racing or rallying," says motorsport accountant Phil Harris. "The tax rules on residence can have a massive impact on your UK tax bill," he continues. "The UK tax rules on residence saw a massive re-write on 6 April 2013 and as a result they will have a big impact on many motorsport activities. We are currenly working with a race team based in the EU who will be directly affected b y the new rules." For more information on the new tax rules and how they will affect your motorsport business, please contact Harris & Co chartered accountants Northampron, the specialist motorsport accountants.