Sports clubs play a valuable role in their communities. The CASC scheme recognises this important role by distinguishing between clubs and businesses for rates and tax purposes, ensuring money is kept in sports clubs. Over 6,200 clubs are now registered as Community Amateur Sports Clubs (CASC).
Both property and non-property owning clubs can significantly benefit from the scheme. The key benefits of CASC registration include:
- 80% mandatory business rate relief.
- The ability to raise funds from individuals under Gift Aid.
- 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, of particular relevance following the abolition of the nil rate band.
- CASCs whose income does not exceed these thresholds will no longer be required to complete an annual Corporation Tax return.
More information about the CASC scheme can be found on the CASC Development Forum website.