CASC status, what is it and how to achieve it?
CASC - Cummunity Amateur Sports Club is a type of charitable status for Amateur clubs.
The main benefits and conditions can be summarised as.
Benefits
Annual saving of 80% of business rates - this can be as much as £30,000 per year
No corporation tax to pay on annual profits or surpluses
No corporation tax to pay on investment income
Gift Aid reclaim of 20% tax on donations
Donors are able to reclaim higher rate tax on donations
Requirements
Be a genuine "members" club
Make some changes to the Constitution or Articles of Association
Not to distribute profits to members
Not to sell land or other assets and distribute the proceeds to members
To be an equal opportunities organisation within the golf/sports environment
Interested in inititial discussion - call 017904 157606
The main benefits and conditions can be summarised as.
Benefits
Annual saving of 80% of business rates - this can be as much as £30,000 per year
No corporation tax to pay on annual profits or surpluses
No corporation tax to pay on investment income
Gift Aid reclaim of 20% tax on donations
Donors are able to reclaim higher rate tax on donations
Requirements
Be a genuine "members" club
Make some changes to the Constitution or Articles of Association
Not to distribute profits to members
Not to sell land or other assets and distribute the proceeds to members
To be an equal opportunities organisation within the golf/sports environment
Interested in inititial discussion - call 017904 157606