£100m in tax relief will shortly have been received by CASC’s since the scheme’s inception in 2002 (Source: estimate based on Deloitte – Monthly analysis of CASC registrations). This is a fantastic milestone and highlights how valuable the scheme is to grass roots sport.
There has never been a better time for cricket clubs to register as a Community Amateur Sports Club! Many Local Authorities are in the process of withdrawing discretionary business rate relief in order to save money in the current economic climate. Registering as a CASC entitles the club to mandatory 80% rate relief which significantly reduces the financial burden. Let us know if your LA is withdrawing discretionary rate relief or being difficult on business rates (email@example.com).
Did you know that Community Amateur Sports Clubs must satisfy the recently introduced Fit and Proper Persons test? This has been brought in to ensure that individuals such as committee members who have general or financial control of the club are suitable. For further details on how to ensure you are satisfying this condition please visit the HMRC website at www.hmrc.gov.uk/charities/guidance-notes/chapter2/fp-persons-test.htm
There is a new application form to register with HMRC as a Community Amateur Sports Club. It is a new ‘intelligent’ form and has to be filled out on-line, printed and posted to HMRC. You will find the form at www.hmrc.gov.uk/charities/casc/register.htm#5. Please do not use the old form as this will not be accepted.
Improvements for claiming Gift Aid are currently in the pipeline to commence in April 2013. The proposal is to remove the need by the club to obtain gift aid declarations for small donations under £10, with a maximum of £5,000 per year per CASC. This will significantly reduce the administrative burden on fundraising for registered CASC’s. If the proposal goes ahead, a CASC would have to have been operating gift aid successfully for a minimum of three years. A good reason to register as a CASC now! The Government will be consulting on this issue over the summer through the Charity Tax Forum which our CASC consultants are members of.
For further information visit the HMRC’s website at www.hmrc.gov.uk/charities/casc/index.htm
File Download: Just Giving Presentation – Update June 2011