Tax breaks
Community Amateur Sports Clubs (CASCs) tax breaks
Amateur sports clubs who do not wish to apply for charitable status can now apply for a package of tax relief available directly from Inland Revenue. In order to qualify, a club must:
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be open to the whole community
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be organised on an amateur basis
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have as its main purpose the provision of facilities for, and promotion of participation in, one or more eligible sports
From 1 April 2004, the package gave mandatory tax rate relief of 80% to registered clubs, as well as tax relief on:
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fund-raising income up to £30,000
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income from interest
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rental income up to £20,000
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capital gains tax on disposals
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gift aid on donations from individual donors
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inheritance tax on gifts of assets or trading stock
More information about the CASC scheme can be found on the CASC Development Forum website.