Community Amateur Sports Club Scheme
Sports clubs play a valuable role in their communities. The Community Amateur Sports Club (CASC) scheme recognises this important role by distinguishing between clubs and businesses for rates and tax purposes, ensuring money is kept in sports clubs.
New figures have shown that 4,380 clubs are now registered as CASCs and benefiting from an estimated £20.3million in savings.
Benefits
The key benefits of CASC registration include:
• 80% mandatory business rate relief.
• The ability to raise funds from individuals under Gift Aid. A registered CASC can reclaim up to £28 in tax for every £100 donated.
• CASCs are exempt from Corporation Tax on profits derived from trading activities if their trading income is under £30,000 pa.
• Profits derived from property income are also exempt for CASCs if gross property income is under £20,000 pa.
• CASCs whose income does not exceed these thresholds will no longer be required to complete an annual Corporation Tax return.
Eligibility
To become a Community Amateur Sports Club, clubs must:
• be a recognised sport by the sports council;
• not discriminate in any way in their membership policies and be wholly open to all sections of the community;
• have a core purpose in the promotion of amateur sports participation;
• be non-profit making, and re-invest any profits in the sports club;
• stipulate that in the event of being wound up, any remaining assets be distributed to either the sports governing body for use in community sport, another CASC or charity.
To find out more about becoming a Community Amateur Sports Club and benefit from the savings available visit the CASC website; www.cascinfo.co.uk This website provides the information required to make a decision on CASC registration for your club.
Gift Aid
The Government has launched a new consultation on Gift Aid. The CCPR, the alliance for sporting organisations in the UK, is responding to the consultation and is urging clubs to take part in a short survey to help inform its response and ensure the voice of sports clubs is heard.
The campaign is asking for the concept of Gift Aid, to be applied to junior subs at Community Amateur Sports Clubs (CASCs). Gift Aid is a tax relief that benefits charities. When a tax-payer gives a donation under the Gift Aid Scheme, the charity they give to can claim back from Government the tax that the donor has paid on the gift.
For more information on Gift Aid please follow this link www.cascinfo.co.uk/giftaid/
Please take part in the short survey to ensure the voice of sports clubs is heard via the following link www.cascinfo.co.uk/giftaid/Gift+Aid+Survey/
