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Tax gains for Clubs?

25/01/2010

 

DCMS Minister (Department for Culture, Media and Sport) urges thousands more sports clubs to register for tax benefits and share in a mutlti-million pound windfall.

The detail is contained in the full press release linked below.

Thousands of amateur sports clubs across the UK are missing out on a share of tax savings running into millions of pounds, Sports Minister Gerry Sutcliffe said today.

Sutcliffe wants more clubs to join the Community Amateur Sports Club (CASC) scheme so they will have more money to help drive a sporting legacy from 2012.
 
Benfits include: – 
  • Mandatory business rate relief for 80 per cent of the total business rates bill
  • The potential to reclaim Gift Aid on donations from individuals – for every £1 donated clubs can claim an extra 25p tax refund from the government with an additional 3p per £1 available until April 2011
  • Exemption from Corporation Tax on profits if their annual trading income is under £30,000 per year

Clubs eligible are those that encourage participation in a qualifying sport, are open to the whole community, without discrimination, and ensure profits go back into the club, benefitting sport. 

 

  • Full Press release: Gerry Sutcliffe – Minister urges thousands more sports clubs to register for tax benefits (0.07MB)
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