Updated community amateur sports club list
HMRC have updated their list of registered community amateur sports clubs (CASCs) which now includes the name and address details of 5,901 registered CASCs.
The CASC scheme was first introduced in April 2002 and allows for many amateur sports clubs to register with HMRC thereby benefiting from a range of tax reliefs, including gift aid.
The main conditions necessary for an amateur club to be classified as a CASC are as follows:
- The club must be open to the whole community
- The club must be organised on an amateur basis
- The club must have as its main purpose providing facilities for, and promoting participation in one or more eligible sports
- The club must meet the necessary location requirements
- The club must meet the necessary management conditions
Sports clubs that are registered as CASCs can claim the following tax reliefs:
- Exemption from Corporation Tax on profits from trading where the turnover of the trade is less than £30,000.
- Exemption from Corporation Tax on income from property where the gross income is less than £20,000.
- Exemption from Corporation Tax on interest received.
- Exemption from Corporation Tax on chargeable gains.